The board of directors of Astron Corporation Limited (ASX:ATR) agreed to spin-off Astron Titanium (Yingkou) Hong Kong Holding Limited on July 2, 2021. This demerger is proposed to occur by way of a dividend, satisfied by an in-specie distribution of shares in Titanium Hong Kong to existing Astron Corporation Securityholders with one (1) Titanium Hong Kong share to be distributed for every one (1) Astron security held. The distributed shares in Titanium Hong Kong will not be listed on any securities exchange. As a result of the demerger, Astron will retain its mineral sands assets in Australia and West Senegal and maintain a focus on upstream mineral sands exploration, development and production, while Titanium Hong Kong will continue to operate the downstream mineral processing facility previously operated by Astron Corporation Limited. Astron Corporation Limited`s extraordinary General Meeting will be held on July 19, 2021. The transaction is approved by shareholders of Astron Corporation. The spinoff is expected to complete on July 30, 2021. Astron Corporation Limited (ASX:ATR) cancelled the spin-off of Astron Titanium (Yingkou) Hong Kong Holding Limited on October 21, 2021. The Board of Astron has decided not to proceed with the demerger.