Greatland Gold plc (AIM: GGP) has secured strong shareholder backing for its proposed scheme of arrangement, marking a significant milestone in the company’s ongoing restructuring.
On Monday, shareholders voted overwhelmingly in favour of the plan at both a court meeting and a general meeting. At the Court Meeting, 99.95% of voting Scheme Shareholders supported the resolution, representing 64.34% of the eligible ordinary share capital.
During the subsequent General Meeting, shareholders passed two special resolutions with 99.97% approval. The first authorised the adoption of amended articles of association, while the second gave directors the authority to implement the scheme.
The restructuring process also met a critical regulatory requirement, with confirmation that the Treasurer of Australia raised no objection to Newmont NOL Pty Limited’s acquisition of GRL Shares. This satisfies a key condition under the Australian Foreign Acquisitions and Takeovers Act.
The scheme is still subject to final court approval, with a sanction hearing scheduled for 18 June 2025. If approved, the scheme is expected to take effect on 20 June, with the final day of trading in Greatland Gold shares set for 19 June 2025.
The company has released an anticipated timetable detailing the key remaining steps in its restructuring process, including the issuance of Greatland Resources Limited (GRL) shares and their planned admission to trading on the Australian Securities Exchange (ASX).
