Ramelius Completes Spartan Takeover, Spartan Shares Delisted from ASX
Ramelius Resources has finalized its acquisition of Spartan Resources through a scheme of arrangement, leading to Spartan’s delisting from the ASX and share transfers to Ramelius shareholders.
- Scheme of arrangement acquisition of Spartan by Ramelius completed
- Spartan shares transferred to Ramelius shareholders at 0.6957 shares plus $0.25 cash per Spartan share
- Trading of Spartan shares suspended on 22 July 2025
- Spartan officially delisted from ASX effective 1 August 2025
- Ineligible shareholders received cash proceeds from share sales via appointed agent
Acquisition Finalized
Ramelius Resources Limited (ASX – RMS) has officially completed its acquisition of Spartan Resources Limited (ASX – SPR) through a scheme of arrangement, marking a significant consolidation in the Australian gold mining sector. The transaction, which was first announced earlier this year, involved Ramelius issuing 0.6957 of its shares plus $0.25 cash for each Spartan share held by eligible shareholders.
This exchange ratio was set out in the scheme booklet released in June 2025 and has now been fully implemented, with all Spartan shares transferred to Ramelius. The acquisition aims to strengthen Ramelius’s resource base and operational footprint in Western Australia.
Shareholder Impact and Delisting
Trading of Spartan shares was suspended on 22 July 2025, ahead of the formal delisting scheduled for 1 August 2025. This suspension was a necessary step to facilitate the orderly transfer of shares and to comply with ASX regulations. Eligible Spartan shareholders have received their Ramelius shares and cash consideration as per the scheme terms.
For shareholders deemed ineligible or holding unmarketable parcels, Ramelius appointed a sale agent to dispose of their Spartan shares, with net proceeds distributed accordingly. This process ensures that all shareholders are fairly compensated despite not participating directly in the scheme.
Strategic Outlook
With Spartan now fully integrated under Ramelius ownership, the combined entity is expected to leverage operational synergies and enhance its gold production profile. While the announcement does not detail immediate operational changes, market watchers will be keen to see how Ramelius capitalizes on this acquisition in the coming quarters.
Spartan’s Executive Chairman Simon Lawson and Ramelius representatives have yet to comment publicly on integration plans, but the completion of this scheme marks a pivotal moment for both companies and their shareholders.
Bottom Line?
Ramelius’s acquisition of Spartan reshapes the ASX gold mining landscape, with integration and performance now in focus.
Questions in the middle?
- How will Ramelius integrate Spartan’s assets operationally and financially?
- What are the expected cost synergies or production gains from the acquisition?
- Will Ramelius pursue further consolidation in the gold mining sector following this deal?
