Distribution in-specie Giralia will hold 40 million Shares in U3O8 Limited upon quotation on ASX. At a shareholder meeting to be held on or about 28 April 2006, Giralia will seek shareholder approval to distribute approximately 32 million of the 40 million U3O8 Limited Shares to its shareholders on a pro-rata basis. The record date for the in-specie distribution will be 5 business days after shareholder approval is obtained. Giralia intends to undertake the distribution in-specie of the approximately 32 million Shares to its shareholders within approximately 6 months after the U3O8 Limited Shares commence quotation on the ASX. Pro-rata option issue Approximately 3 months after the completion of the in-specie distribution of the Shares in U3O8 Limited to Giralia shareholders, U3O8 Limited intends to conduct a pro-rata issue of options to its Shareholders on the basis of one option for every two Shares held at the relevant date. The options will be issued at a price of 1 cent each, exercisable at $0.25 each on or before 30 June 2009. The options will otherwise be on terms and conditions standard for options in a listed company.
GIR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
