Jupiter Mines (ASX:JMS) see delay in the demerger of Juno

15MarMarch 15, 2021

Jupiter Mines (ASX:JMS) see delay in the demerger of Juno

Jupiter Mines (ASX:JMS) says that the demerger and initial public offering of Juno Minerals is still to be pursued, but on a delayed timetable.

The proposed ASX listing of Juno is expected to be completed in May.

The delay is due to Stichting Pensioenfonds, a Jupiter shareholder, not intending to meet the regulatory requirements of the Foreign Investment Review Board.

Accordingly, it will be removed as a condition of the transaction and Jupiter will be able to effect the in-specie distribution and capital reduction after shareholder approval.

Shares in Jupiter Mines (ASX:JMS) are trading 6.82 per cent lower at 31 cents.

Copyright 2021 – Finance News Network

Source: Finance News Network

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