Jupiter Mines (ASX:JMS) has halted the demerger of Juno Minerals

Company News

by Rachael Jones

Jupiter Mines (ASX:JMS) says that despite the overwhelming support for the demerger of Juno Minerals and initial public offering, it has been halted.

Stichting Pensioenfonds ABP a Jupiter shareholder, have confirmed that they do not intend to meet the regulatory requirements of the Foreign Investment Review Board which is a condition of the in-specie distribution and capital reduction.

The Boards of Jupiter and Juno are now assessing its future options and will update the markets in due course.

Shares in Jupiter Mines (ASX:JMS) are trading 2.14 per cent lower at 34 cents.