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

[videojs_hls url=’//du7x25at22z7c.cloudfront.net/328102/index_HLSv3.m3u8′ poster=’http://www.finnewsnetwork.com.au/newssystem/2021/Headlines02_360_210315.jpg’]

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