Energy Resources of Australia (ERA) has announced that shareholders Cameco, Cogema and Jaurd have agreed to convert their shares to ‘A’ class shares before selling the stock.
Majority held by Rio Tinto through its wholly-owned subsidiaries Peko-Wallsend Pty and North Limited, the Canadian group Cameco holds 6.69% of ERA’s issued capital, Cogema – subsidiary of the French Areva group – holds 7.76%, and Japan Australia Uranium Resource Development Company (Jaurd) of Japan holds 10.64%.
Cameco, Cogema and Jaurd intend to sell their shares once they are quoted on the Australian Stock Exchange through a single offer to professional investors to be made by the end of November.
