Aug 2 (Reuters) - Blackwall Ltd BWF.AX :
* BOARD HAS RESOLVED TO PROCEED WITH A PROPOSAL TO SPIN OFF WOTSO WORKSPACE AS A STAND-ALONE BUSINESS
* ON COMPLETION OF THE DEMERGER WOTSO INTENDS TO LIST ON THE ASX IN ITS OWN RIGHT
* FOUNDER SEPH GLEW WILL TAKE THE ROLE OF BLACKWALL CHAIRMAN
* WOTSO TO DEMERGE SUCH THAT CO'S 1,200 SHAREHOLDERS WILL HOLD THEIR EXISTING SHARES AND RECEIVE NEW WOTSO SHARES ON A PRO RATA BASIS
* CEO STUART BROWN WILL MOVE ACROSS TO HEAD UP WOTSO
* TIM BROWN AND JESS GLEW WILL BE APPOINTED AS BLACKWALL'S JOINT MANAGING DIRECTORS