Metalstech (MTC.AX) has provided an update on its proposed spinout of Winsome Resources (WR1.AX), which will hold the company’s lithium assets. The shareholder meeting has been called for October 4th with an anticipated record date of October 7th with a first trading day of Winsome anticipated shortly thereafter.
Nothing else has changed: the distribution ratio is the same and shareholders of Metalstech will receive 1 share of Winsome for every 3.5 shares of Metalstech they own, and the brokerage firms should deposit those shares in the accounts shortly after October 7th.
Disclosure: The author has no position in Metalstech and Winsome Resources, but Metalstech is a sponsor of the website. Please read our disclaimer.
