Brief: Blackwall Updates On Demerger Of Wotso Coworking Business

Blackwall

19/11/2019 01:33

Nov 19 (Reuters) - Blackwall Ltd  BWF.AX :
    * UPDATES ON DEMERGER OF WOTSO COWORKING    BUSINESS
    * DEMERGER INVOLVES A CAPITAL REDUCTION & DISTRIBUTION WHICH
WILL
BE SATISFIED BY AN IN SPECIE DISTRIBUTION OF 86% OF THE SHARES
IN WOTSO
    * BLACKWALL WILL RETAIN A 14%INTEREST IN WOTSO WITH A
CARRYING
VALUE OF $5 MILLION
    * FORMER BLACKWALL CEO, STUART BROWN, HAS TAKEN ROLE OF
WOTSO
MANAGING DIRECTOR

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