Shareholders support SouthernEra split 2nd August 2004
SouthernEra has won strong backing from shareholders for its proposed restructuring plans.
The pgm miner said that a massive 99.7 per cent of those attending the company's annual and special meeting voted in favour of the changes.
Under the terms of the proposals SouthernEra is seeking to establish two separately listed outfits, including one solely in charge of its platinum assets.
Entitled Southern Platinum Corp, the company will act as a separate entity to SouthernEra Diamonds Inc, which will hold the firm's diamond assets.
However, before the reorganisation can take effect SouthernEra will need Toronto Stock Exchange approval and also approval from the Canada Revenue Agency.
It is hoped the final regulatory hurdles can be negotiated by the end of August.

© Adfero Ltd
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