Carawine’s ASX Journey Ends as Court Approves QGold’s Compulsory Acquisition

Court Approval Marks Final Step in QGold’s Takeover

Carawine Resources Limited (ASX, CWX) has reached a pivotal moment in its corporate journey following the Federal Court of Australia’s approval of QGold Pty Ltd’s compulsory acquisition of all remaining ordinary shares it does not already own. This legal endorsement effectively clears the path for QGold, Carawine’s major shareholder, to consolidate full ownership of the mineral exploration company.

The compulsory acquisition, set at a price of 11 cents per share, follows a protracted legal process that included objections from shareholders holding over 10% of the outstanding shares. After a final hearing in May 2025, the Court’s recent judgment confirms that QGold’s acquisition notice stands, allowing the transaction to proceed under the terms originally proposed.

Implications for Shareholders and Market Trading

With the Court’s decision now public, Carawine’s shares will continue trading on the ASX until the close of business on 10 October 2025, after which trading will be suspended. This suspension signals the beginning of the end for Carawine’s presence on the exchange, with delisting to follow on a date yet to be announced by ASX. Shareholders who wish to exit their positions before the suspension are advised to act promptly, as shares sold on market prior to suspension will not be eligible for the compulsory acquisition payment.

The company has urged shareholders to verify and update their contact and shareholding details through the MUFG Investor Centre to ensure smooth processing of payments once the acquisition proceeds. Detailed instructions and a timetable for the compulsory acquisition payment will be communicated ahead of the delisting.

What This Means for Carawine’s Future

Carawine Resources, known for its exploration projects targeting gold, copper, and base metals in Western Australia and Victoria, will transition from a publicly traded entity to a privately held company under QGold’s full ownership. This shift often allows for more streamlined decision-making and potentially a renewed strategic focus away from the pressures of public markets.

However, the delisting also means reduced liquidity and transparency for former shareholders, who will now rely on QGold’s stewardship and any future disclosures it elects to make. The acquisition price of $0.11 per share sets a clear valuation benchmark, but questions remain about the long-term plans for Carawine’s assets and exploration programs under sole ownership.