ASM demerger from Alkane complete

Alkane Resources (ASX: ALK) has announced that the in specie distribution and transfer of Australian Strategic Materials Limited (ASX: ASM) shares to Alkane Eligible Shareholders and the Sale Agent, completed yesterday, in line with the timetable detailed in the Demerger Booklet released to the ASX on 17 June 2020.

The total number of ASM shares on issue is 119,049,778.

Holding statements were dispatched to ASM shareholders yesterday. ASM’s share register is managed by Advanced Share Registry. ASM shareholders can contact Advanced Share Registry with any questions regarding their shareholding on 1300 113 258 (within Australia) or +61 8 9389 8033 (outside Australia).

The ASX has indicated that all requirements for listing have been met and that ASM’s first day of trading is confirmed to be Thursday, 30 July 2020.

The demerger completes the process that allows ASM to focus on becoming a key Australian producer of critical materials and Alkane to focus exclusively on becoming Australia’s next multi-mine gold producer.

Read the full ASX release