Spartan Resources to suspend trading as court approves Ramelius merger
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The news: Spartan Resources shares are set to be suspended from trading on Tuesday, after the Supreme Court of Western Australia approved its takeover by rival gold miner Ramelius Resources.
The numbers: Shares in Ramelius (-2.4%) and Spartan (-2.8%) were both lower at 1:40pm AEST.
The context: Spartan expects to lodge a copy of the court's orders with the Australian Securities and Investments Commission on Tuesday, at which time the scheme of arrangement will become effective.
Spartan's shares are set to be suspended from trading once the market closes on Tuesday.
The merger, first announced in March, is expected to be completed on 31 July.
The source: ASX
