Spartan Resources (ASX:SPR) said the Supreme Court of Western Australia ordered that a meeting of its shareholders be held to decide on the company's proposed acquisition by Ramelius Resources (ASX:RMS) through a scheme of arrangement for AU$0.25 in cash and 0.6957 new Ramelius shares for each Spartan share, according to a Wednesday filing with the Australian bourse.
The scheme meeting is scheduled for July 11, the filing said.
The company's board recommends shareholders vote in favor of the scheme, subject to the absence of a superior proposal and an independent expert's conclusion that it is in the best interests of shareholders, the filing added.
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