Oct 28 (Reuters) - Jupiter Mines Ltd JMS.AX :
* UNANIMOUSLY APPROVED A DEMERGER OF ITS CENTRAL YILGARN IRON ORE ASSETS
* DEMERGER OF IRON ORE ASSETS WILL CREATE AN ASX LISTED COMPANY
* DEMERGER VIA A DISTRIBUTION OF NEWCO SHARES IN-SPECIE TO CO SHAREHOLDERS, IN PROPORTION TO THEIR EXISTING SHAREHOLDING IN CO
* BOARD APPROVED SUBSEQUENT IPO OF ITS CENTRAL YILGARN IRON ORE ASSETS
* JUPITER WILL RETAIN A MINORITY HOLDING IN NEWCO
* DEMERGER AND LISTING EXPECTED TO BE COMPLETED IN FIRST QUARTER OF 2021