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Highlights:
- Spartan Resources shares end trading at AUD 2.06 ahead of scheme implementation
- Ramelius Resources to issue shares and cash as part of acquisition deal
- Spartan’s FY25 share price more than doubled amid higher gold prices
Spartan Resources Ltd (ASX:SPR) traded for the final time on Tuesday, 22 July, trading 4.6% higher at AUD 2.06 per share. This follows the approval of its acquisition by Ramelius Resources Ltd (ASX:RMS) by the Supreme Court of Western Australia. The merger is set to become effective following the lodgement of court orders with the Australian Securities and Investments Commission (ASIC). The ASX will suspend Spartan shares from trading after Tuesday’s market close, with the implementation of the scheme expected to occur on Thursday, 31 July 2025. As part of the agreed terms, Spartan shareholders will receive 25 cents in cash and 0.6957 new Ramelius shares for each Spartan share held. Upon completion, S&P Dow Jones Indices will remove Spartan Resources from the ASX 200 Index. Its position will be filled by Infratil Ltd (ASX:IFT), a New Zealand-based investment firm focused on energy, transport, and infrastructure assets.
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