Spartan Resources (ASX:SPR) shares rose more than 2% in recent Monday trade following a July 11 filing with the Australian bourse indicating that the resolution to approve the proposed acquisition by Ramelius Resources (ASX:RMS) of all the issued shares of Spartan through a scheme of arrangement was passed by shareholders.
More than 96% of the votes cast by eligible shareholders were in favor of the resolution, the filing said.
The company applied to the Supreme Court of Western Australia for approval of the scheme at a hearing scheduled July 21, per the filing.
Ramelius Resources rose 2% in afternoon trade Monday.
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