ASM demerger approved

ASM’s parent company Alkane Resources has announced that shareholders have approved the demerger of ASM.

Key points:

  • Alkane shareholders overwhelmingly approve the Demerger of ASM, with both resolutions tabled at the Extraordinary General Meeting passed.
  • ASM will become one of Australia’s preeminent specialty materials development companies when it lists on the ASX, which is on track, and expected on or around 30 July.
  • Alkane will become a pure-play Australian gold company with balance sheet strength, a quality production asset in Tomingley, and an exciting development pathway with one of Australia’s most significant exploration discoveries at Boda.

Chairman Ian Gandel commented, “The board is delighted that Alkane shareholders have supported this critical corporate initiative for our company with such an overwhelming majority. Indeed, in excess of 99.9% of votes cast at the meeting were in favour of the Demerger transaction

“During implementation planning, and with the appointment of David Woodall as Managing Director of ASM earlier in the year, we are already seeing the benefits of a clear strategic focus for both companies.”

Read the full ASX Release