Brief: Jindalee Resources Says Proposes To Separate Australian Assets

Jindalee Lithium

12/04/2022 08:51

April 12 (Reuters) - Jindalee Resources Ltd  JRL.AX :
    * PROPOSES TO SEPARATE COMPANY'S AUSTRALIAN ASSETS INTO A
STAND-ALONE VEHICLE, NEWCO
    * PROPOSES TO SEPARATE CO'S AUSTRALIAN ASSETS INTO A
STAND-ALONE
VEHICLE, NEWCO, WHICH WILL BE LISTED ON ASX
    * NEWCO'S PORTFOLIO WILL INCLUDE JINDALEE'S LANDHOLDING IN
WIDGIEMOOLTHA DISTRICT AND LAKE PERCY PROJECT
    * KAREN WELLMAN WILL BE APPOINTED AS MANAGING DIRECTOR OF
NEWCO
    * REMAINDER OF NEWCO BOARD WILL COMPRISE JUSTIN MANNOLINI AS
NON-EXECUTIVE CHAIRMAN
    * EXPECTS TO PUBLISH AN UPDATED MINERAL RESOURCE ESTIMATE
FOR
MCDERMITT IN CURRENT QUARTER
    * DEMERGER WILL BE EFFECTED BY A DISTRIBUTION OF 100% OF
NEWCO
SHARES ON ISSUE VIA AN IN-SPECIE DISTRIBUTION BY JINDALEE

Source text for Eikon:  ID:nASXbPp6LM 
Further company coverage:  JRL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))