Hartshead Resources NL (ASX: HHR) today announced a significant development in its acquisition process, confirming that the Supreme Court of Western Australia has approved its scheme of arrangement. Under this scheme, ACAM GP Limited, acting as general partner of ACAM LP, is set to acquire 100% of Hartshead’s issued share capital. Hartshead Resources NL is an ASX-listed company with interests in the energy sector, focused on resource development. This judicial approval clears the path for ACAM to proceed with the acquisition as detailed in the Scheme Booklet issued by Hartshead on 30 April 2026.
The company intends to lodge an office copy of the Court’s orders with the Australian Securities and Investments Commission (ASIC) on Friday, 12 June 2026. Upon this lodgement, the Scheme will become legally effective and binding on Hartshead Resources shareholders. Subject to the Scheme becoming effective, Hartshead also plans to apply for the suspension of HHR shares from trading on the ASX, with effect from the close of trading on Friday, 12 June 2026. This marks a key procedural step towards the finalisation of the acquisition.
Eligible Hartshead shareholders will receive specific cash consideration for their holdings. For each fully paid ordinary Hartshead share, the consideration will be $0.014, while each partly paid ordinary Hartshead share will attract a payment of $0.0007. The determination of entitlements to this Scheme Consideration will be based on shareholder holdings recorded at 5:00pm (AWST) on Tuesday, 16 June 2026, which serves as the designated Record Date. The final implementation of the Scheme, encompassing the distribution of the Scheme Consideration, is anticipated to occur on Tuesday, 23 June 2026.
