Aorere Resources Limited (NZSE:AOR) announced the spin-off of Widespread Limited on April 6, 2020. Under the transaction, Aorere Resources Limited will distribute shares in its wholly owned subsidiary, Widespread Limited to all Aorere Resources shareholders on pro rata basis. Widespread will at that time hold all existing assets of Aorere and a right to receive up to NZD 0.6 million over the following two years from All Industrial Network Limited. All existing shareholders will receive a new shareholding in Widespread while continuing to hold their Aorere Resources shares. It is intended that Widespread will list its shares on the unlisted market following completion of the acquisition between All Industrial Network Limited and Aorere Resources Limited. In a separate transaction, All Industrial Network Limited entered into an agreement to acquire Aorere Resources Limited (NZSE:AOR) in a reverse merger transaction. The record date for Widespread In-Specie Distribution and Share Consolidation is June 24, 2020 and Widespread In-Specie Distribution takes effect on June 29, 2020. On June 26, 2020, Widespread In-Specie Distribution takes effect date is delayed to July 3, 2020. On July 3, 2020, Aorere Resources confirm that the Widespread in-specie distribution that formed part of the transaction approved by shareholders at the special meeting held on June 25, 2020, and previously announced to market on June 10, 2020, has now been made based on the previously advised record date of June 24, 2020. Shareholders will receive a statement from Aorere’s share register, Link Market Services confirming their new Widespread shareholdings.