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Triangle is spinning-out its Reids Dome project in Queensland into a separately listed entity.

Triangle to float subsidiary on ASX

Gas explorer Triangle Energy Global has announced plans to spin-out one of its subsidiaries into a new entity and float it on the ASX.

Perth-based Triangle will spin-out its wholly-owned subsidiary State Gas into a separate company and undertake a $5.3 million initial public offering.

The IPO will be priced at 20 cents a share.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
57thTriangle Energy Global213%1%
387thHannans6%0%
417thSundance Resources0%-62%
463rdRox Resources-6%-1%
792ndSamson Oil & Gas-72%-43%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

24/08/17
$5k Bought
18/08/17
$0 Issued
18/08/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

50th↑Samson Oil & Gas$19.8m
51st↑Rox Resources$17.1m
52nd↑Triangle Energy Global$16.8m
53rd↑Hannans$13.5m
54th↑Sundance Resources$12.4m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Triangle Energy Global

450thRobert Towner$250k
722ndDarren Bromley$197k
1365thEdward Farrell$50k
Ranked by total remuneration from all listed WA companies

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