Ann: GBR confirms Cosmo Metals spin-out, page-4

OK, so with the spin out of Cosmo Metals existing GBR shareholders will not receive any in-specie distribution of Cosmo shares (these will be retained by GBR). Existing shareholders will however have a priority entitlement to buy Cosmo shares in the spin out.

I'm generally quite careful when it comes to buying shares in spin-outs because often the spun out assets are average IMO. Having said this, IMO Cosmo is a good one - the assets are very promising and the new management (Bird, Ziggy etc) is first class.

I will therefore be applying for shares in the spin out.

GLTA & DYOR