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Uran to spin-off Great Western in $3m IPO

West Perth-based uranium explorer Uran Ltd's has announced plans to spin-off its nickel exploration assets through subsidiary Great Western Exploration in a $3 million initial public offer.

Uran will transfer its 80 per cent holdings in the Mt Gibb and Hatters Hill nickel projects, in the Forrestania Green Belt, to Great Western under the spin-off.

Great Western, which is scheduled to list on the ASX in May this year, will offer 15 million shares at 20 cents each, with 11 million to be offered to Uran shareholders on a priority basis.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/08/16

1 year TSR5 year TSR
112thFortescue Metals Group162%-2%
316thSouth3226%0%
534thWoodside Petroleum-8%1%
543rdIluka Resources-9%-14%
718thAtlas Iron-58%-68%
777 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

23/09/16
$0 Other
23/09/16
$0 Other
20/09/16
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$9,806.1m
2nd↑South32$8,262.9m
3rd-Woodside Petroleum$6,935.4m
4th↑Iluka Resources$884.1m
5th↑Atlas Iron$803.7m
523 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

3rdNev Power$5.992m
12thStephen Pearce$2.551m
25thNick Cernotta$1.566m
Ranked by total remuneration from all listed WA companies

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