Felix Resources (ASX:FLX) To Demerge South Australian Coal and List It on ASX

  Sydney, Australia, Sep 30, 2009 - (ABN Newswire) - Felix Resources Ltd. (ASX:FLX) said Wednesday it plans to demerge South Australian Coal Ltd (SAC), which owns the Lake Phillipson deposit with a thermal coal resource of about 515 million metric tons, from Felix through an in specie distribution of shares in SAC.Shareholders in Felix will be issued with shares in the unlisted SAC on a one-for-one basis.  

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