LCL 8.33% 1.1¢ lcl resources limited

Found the following statement interesting. A condition of the...

  1. 732 Posts.
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    Found the following statement interesting.

    A condition of the Agreement is that the Company will use its best endeavours to distribute at least 90% of its holding in Hampton Mining (the wholly owned subsidiary holding its interest in the Los Calatos Project) to its shareholders within six months of completion. The Company will in due course be calling a meeting of its shareholders to seek approval for the return of capital to effect the in specie distribution of its holding in Hampton Mining.

    I am not sure what this means or what implications this has to us MNC shareholders. Does it mean our holding in MNC will be split in two so we hold shares in the LCH Company and MNC or is this simply a paper exercise MNC are contemplating regarding how the structure of the holding company will be made up.
    I wish they were more clear in there statements and what they actually are doing going forward as it seems each announcement has a surprise dug deep into the detail to confuse us investors!
 
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Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
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