Ramelius Resources Limited (ASX: RMS), a mid-tier Australian gold producer with operations in Western Australia, has announced the successful completion of its acquisition of Spartan Resources Limited (ASX: SPR) via a scheme of arrangement. All Spartan shares have now been transferred to Ramelius, with eligible Spartan shareholders receiving 0.6957 new Ramelius shares and $0.25 for each Spartan share held on the scheme record date of July 24, 2025. The new Ramelius shares are expected to commence trading on the ASX on August 1, 2025.
Ineligible shareholders have received the cash component of the scheme consideration. Ramelius issued new Ramelius shares to a sale agent, who will sell the shares, and the proceeds will be paid to ineligible shareholders, as detailed in the transaction booklet. Spartan will be delisted from the ASX, with its removal expected to take effect from the close of trading on August 1, 2025. Trading of Spartan shares has been suspended since the scheme became effective on July 22, 2025.
Following the scheme’s implementation, Simon Lawson has been appointed as Non-Executive Director and Deputy Chair of Ramelius, and Deanna Carpenter has been appointed as a Non-Executive Director. Mark Zeptner and Robert Vassie have been appointed as Directors of Spartan. Several executive management positions at Spartan have been made redundant, and key personnel have resigned from their roles. Tejal Magan will continue as Company Secretary of Spartan for a transitional period.
Ramelius Managing Director Mark Zeptner stated, “On behalf of everyone at Ramelius, I welcome Spartan’s team and its shareholders to our Company. We strongly believe that this will be a transformational combination bringing together a highly regarded producer with a successful explorer, as we embark towards our newly-founded vision of being a 500,000 ounce producer within 5 years.” He added that the team looks forward to integrating the Dalgaranga asset into their portfolio.
