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Hartshead Resources NL ( (AU:HHR) ) has shared an announcement.
Hartshead Resources NL has agreed a binding scheme of arrangement under which ACAM GP Limited, as general partner of ACAM LP, will acquire 100% of the company in an all-cash transaction valuing Hartshead’s fully diluted equity at about A$40 million. Under the deal, shareholders will receive A$0.014 per fully paid share and A$0.0007 per partly paid share, representing a 133% premium to the last closing price and a 114% premium to the 30-day VWAP, with the board unanimously recommending the proposal and committing its 10.27% voting stake, citing the certainty of value and liquidity versus the significant regulatory, funding and execution risks associated with developing its UK Southern Gas Basin assets; subject to shareholder and court approvals and other conditions, completion is expected in the first half of 2026.
More about Hartshead Resources NL
Hartshead Resources NL is an Australian-listed energy company focused on the development of gas assets in the UK Southern Gas Basin. The company’s activities centre on advancing these offshore gas projects within a complex regulatory and funding environment, targeting value creation from upstream gas exploration and development for its shareholders.
Technical Sentiment Signal: Sell
Current Market Cap: A$16.85M
Find detailed analytics on HHR stock on TipRanks’ Stock Analysis page.