re: Ann: OEG: Orpheus Energy Rights Issue, Pr...
Here it is in black and white!
COALWORKS Limited 30 November 2010 The Manager Company Announcements Office Australian Securities Exchange Limited Bridge Street Sydney Via: e-lodgement COALWORKS? SPIN-OFF APPROVED Coalworks Limited (ASX code: CWK) would like to advise that at today?s General Meeting of Orpheus Energy Limited, the shareholders of Orpheus approved the transaction for the acquisition of Coalworks? Hodgson Vale and Ashford projects and its wholly owned subsidiary, Orpheus Energy Group Pty Limited. This now allows Coalworks to focus on its core projects: Vickery South in the Gunnedah Basin of NSW Ferndale in the Hunter Valley of NSW Oaklands in the South-West of NSW In addition it is expected that the ASX listing of Orpheus Energy Limited will result in a bonus issue of Orpheus shares to Coalworks? shareholders as announced by our Chairman, Wayne Mitchell in his address at the 2010 AGM on 19th November. Orpheus shareholders have approved the issue of approximately 35 million Orpheus shares to Coalworks of which 50% is planned to be distributed as a bonus issue to Coalworks? shareholders. Subject to lodgement of prospectus, the ASX listing of Orpheus Energy Limited is expected in the first quarter of 2011. For further information, please contact: Mr Tony Teng Company Secretary Tel: +61 2 9922 1344 Fax: +61 2 9922 4288 Email: [email protected] www.coalworks.com.au COALWORKS Limited ABN 51 114 702 831 | Level 5, 44 Miller Street North Sydney NSW 2060 Australia ph: +61 2 9922 1344 fax: +61 2 9922 4288 email: [email protected] www.coalworks.com.au
CWK Price at posting:
66.4¢ Sentiment: Hold Disclosure: Held
