Jupiter Mines (ASX:JMS)
says that the demerger and initial public offering of Juno Minerals is still to be pursued, but on a delayed timetable.
The proposed ASX listing of Juno is expected to be completed in May.
The delay is due to Stichting Pensioenfonds, a Jupiter shareholder, not intending to meet the regulatory requirements of the Foreign Investment Review Board.
Accordingly, it will be removed as a condition of the transaction and Jupiter will be able to effect the in-specie distribution and capital reduction after shareholder approval.
Shares in Jupiter Mines (ASX:JMS)
are trading 6.82 per cent lower at 31 cents.