Ramelius Resources Limited (ASX: RMS), a mid-tier Australian gold producer, today announced the successful completion of its acquisition of Spartan Resources Limited (ASX: SPR) via a scheme of arrangement. Ramelius is focused on maximising returns from a portfolio of gold mines in Western Australia. The acquisition, initially outlined in a transaction booklet released on June 4, 2025, has resulted in all Spartan shares being transferred to Ramelius.
Eligible Spartan shareholders have received the scheme consideration of 0.6957 new Ramelius shares and $0.25 for each Spartan share held on the record date of July 24, 2025. Trading of the new Ramelius shares on the ASX is expected to commence on August 1, 2025. Ineligible shareholders will receive the cash component of the consideration, with new Ramelius shares that would have been issued to them instead being transferred to a sale agent. The agent will sell these shares, and the proceeds will be distributed to ineligible shareholders.
Following the completion of the acquisition, Spartan will be delisted from the ASX, with trading in its shares already suspended since the scheme became effective on July 22, 2025. The delisting is expected to take effect from the close of trading on August 1, 2025. Several changes have been made to the boards of directors of both companies as a result of the merger, with Simon Lawson appointed as Non-Executive Director and Deputy Chair of Ramelius, and Deanna Carpenter appointed as Non-Executive Director of Ramelius. Mark Zeptner and Robert Vassie have been appointed as Directors of Spartan.
Mark Zeptner, Managing Director of Ramelius, welcomed Spartan’s team and shareholders to the company, stating that the merger brings together a successful producer and a successful explorer, with a vision of becoming a 500,000-ounce producer within five years. The Ramelius team is focused on integrating the Dalgaranga asset into its portfolio, building upon the collaboration established during the scheme process. This announcement was authorised for release by the Ramelius Board of Directors.
