Peel Mining (ASX:PEX) implemented the demerger of Spectre Metals from the firm via a capital reduction and pro rata in-specie distribution of Spectre shares to Peel shareholders, according to a Tuesday Australian bourse filing.
The demerger distribution of Spectre shares was in the ratio of one Spectre share for every 4.4591 Peel shares held as of June 24, and was transferred to Peel shareholders or to the demerger sale agent.
The scheme of arrangement, in which Aeris Resources (ASX:AIS) will acquire all of Peel shares on issue, is expected to be implemented on Wednesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.