Replies to post #12987 on Plandai Biotechnology Inc (PLPL)

[OINGO BOINGO]

Well peeps over at txtm board are doing cartwheels over tweet that financials to be released tomorrow should be interesting how it plays out just an observer here but one would think if this was all on the up and up why didn't plpl just spin off its own subsidiary and not merge into bloated shell have to agree with you if and when new ticker symbol come out going to be a lot more dumping of shares then eventually big reverse taking place

[samsamsamiam]

what ever happened with this deal?
Section
8
Other
Events

Item
8.01
Other
Events.   On September 20, 2016, the Company’s Board of Directors voted to approve a stock dividend of 25 million shares, representing 25% of the total outstanding stock of its wholly-owned subsidiary, Cannabis Biosciences, Inc., which will be paid to Plandaí’s shareholders of record as of September 30, 2016. The Company intends to file a registration statement covering the dividend shares as part of the Company’s plan to spin Cannabis Biosciences off as a separate, publicly-traded entity in the coming months.   Cannabis Biosciences is the parent company of Plandaí Biotechnology Uruguay, S.A., and holds the license from Plandaí to conduct all product development, clinical trials, sales and marketing for Plandaí’s cannabis-derived bioavailable extract.