In March 2008 CBH Resources Limited announced that, subject to necessary shareholder and other approvals, it would merge with Perilya Limited.

Prior to settling the terms of the Merger with Perilya, CBH was planning to spin out to its shareholders certain of its advanced stage pre-development assets.

In order to do this, CBH transferred the Pre-development Assets to Kimberley Metals Limited then its 100% wholly owned subsidiary, at market value. Pursuant to an equal reduction of capital which was approved by CBH shareholders on 2 May 2008, CBH then made a pro rata distribution of 100% of its shareholding in Kimberley Metals to CBH Shareholders. CBH Shareholders received 1 KM Share for every 9.5 CBH Shares held on the Spinoff Record Date rounded up to the nearest whole number.

These shares were distributed on 19 May 2008 and there was not sufficient time, given the then impending merger with Perilya, to achieve stock exchange listing of Kimberley Metals shares. Subsequently it was announced that the proposed merger of CBH and Perilya would not proceed.

Kimberley Metals was listed on the ASX on 25 February 2010.

Kimberley Metals changed its name to KBL Mining Limited on 23 November 2011.

Click on the PDF link below for a detailed explanation of these matters: