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Phillips River Mining Ltd To Pay Dividend; Completes Sale Of Assets To Silver Lake Resources Ltd; Announces Board Changes


Tuesday, 3 Jul 2012 06:26pm EDT 

Phillips River Mining Ltd announced an unfranked dividend by way of an in specie distribution of 0.08148 fully paid ordinary shares in Silver Lake Resources Ltd (Silver Lake) for every Phillips River fully paid ordinary share (Dividend). The record date for the Dividend is July 13, 2012. The payment date for the Dividend is July 16, 2012. The Company also announced that at general meeting of Phillips River on June 8, 2012 shareholders unanimously voted in favour of the sale of all of Phillips River's assets to Sliver Lake (Asset Sale). The Asset Sale completed on July 3, 2012. In accordance with the Agreement for the Asset Sale, the Managing Director has been made redundant and the current Board of Directors has resigned. The Company has appointed a new Board of Directors, effective July 3, 2012. Paul Chapman is now the Non-Executive Chairman of the Board. 

Company Quote

0.0050
-0.0010 -16.67%
30 Apr 2013