Aurumin Delisting Imminent as Brightstar Completes Full Acquisition
Brightstar Resources has completed its acquisition of Aurumin Limited, converting Aurumin shares and options into Brightstar securities and prompting Aurumin’s imminent delisting from the ASX.
- Brightstar acquires 100% of Aurumin shares via scheme of arrangement
- Aurumin shares and options converted at 1, 4 ratio into Brightstar shares and options
- Aurumin board and company secretary resign; new Brightstar-appointed directors installed
- Aurumin to be removed from ASX official list after trading closes on 3 December 2025
- Aurumin exempted from holding 2025 annual general meeting under ASIC relief
Completion of the Acquisition
On 2 December 2025, Aurumin Limited confirmed the successful implementation of the schemes of arrangement that see Brightstar Resources Limited acquire 100% ownership of Aurumin. This marks the culmination of a transaction first announced in November, where Aurumin shareholders exchanged their holdings for Brightstar securities at a ratio of one new Brightstar share or option for every four Aurumin shares or options held as of the record date, 25 November 2025.
Shareholder Impact and Security Conversion
All Aurumin shares and options have now been transferred and cancelled, with Brightstar issuing the corresponding new shares and options to former Aurumin security holders. Notably, shares attributable to ineligible foreign and small shareholders have been placed with a sale agent, ensuring those investors receive proceeds from subsequent sales. This structured approach aims to provide a smooth transition for all stakeholders involved.
Boardroom and Governance Changes
With the schemes implemented, Aurumin’s existing directors and company secretary have resigned, replaced by a new management team appointed by Brightstar. The new board includes Alexander Rovira, Andrew Rich, Jonathan Downes, Richard Crookes, and Ashley Fraser, with Benjamin Smith stepping in as company secretary. These changes signal Brightstar’s intent to integrate Aurumin’s operations and governance fully under its control.
Delisting and Regulatory Relief
Aurumin has applied for removal from the official ASX list, with delisting expected to take effect after market close on 3 December 2025. Additionally, Aurumin has received relief from the Australian Securities and Investments Commission (ASIC) exempting it from holding its annual general meeting for the financial year ended 30 June 2025, reflecting the company’s changed status post-acquisition.
Looking Ahead
The acquisition completes a significant consolidation in the mineral resources sector, with Brightstar expanding its asset base and shareholder reach. While the immediate focus is on integration and operational alignment, investors will be watching closely for Brightstar’s strategic plans and financial performance updates in the coming months.
Bottom Line?
Brightstar’s acquisition closes a chapter for Aurumin, setting the stage for a new phase under a unified corporate banner.
Questions in the middle?
- How will Brightstar integrate Aurumin’s assets and operations strategically?
- What are the financial implications for Brightstar’s balance sheet and earnings?
- Will Brightstar pursue further acquisitions or expansions following this deal?
