Perth-based minerals explorer Newland Resources Ltd has flagged a potential reorganisation of the company's businesses, including listing its UK operations on London's Alternative Investments Market.
The Australian business currently comprises investments in resource projects, including the Mt Garnet Zinc Project and the recently announced joint venture with Summit Resources Limited in relation to the Georgina Basin Uranium Project in Northwest Queensland and proprietary trading in the resources sector.
The United Kingdom business includes funds management and private equity investment.
The primary aim of the division is to create an expanded UK-based business with funds under management in a number of international sectors including resources, property and emerging markets whilst leaving the Australian business to focus on new and existing resource projects and investments.
It is anticipated that the UK business will be separately listed on the Alternative Investment Market of the London Stock Exchange, and that the Australian business will remain listed on Australian Stock Exchange Limited.
Newland has not currently determined the exact mechanism for the reorganisation of the group and will be taking appropriate financial, legal and taxation advice on the proposal.
It is intended that the matter will be put to a general meeting of shareholders for consideration once the proposal has been fully developed.
Further and fuller details of the proposal will be released to Australian Stock Exchange Limited in due course.