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Straits Resources Ltd Announces Demerger Of Gold Business


Tuesday, 29 Jan 2013 11:44pm EST 

Straits Resources Ltd announced that the Board has approved a proposal to give effect to a demerger of Straits’ gold assets, with the aim of creating independent, ASX-Listed gold and copper entities (Demerger). It is currently proposed that shares in a newly created gold entity would be returned to shareholders as an in specie capital return, as part of the Demerger. Straits will commence the process of separation of the gold and copper assets, which will be subject to a number of external approvals, including Straits shareholder approval. Full details of the Demerger, including the value of the gold assets to be returned to shareholders, will be determined over the coming weeks. Straits will keep shareholders informed as to the progress of the Demerger. 

Company Quote

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0.0010 +25.00%
16 Apr 2014