The Board of Directors of Trustees Australia Limited (ASX:TAU) agreed to spin-off Queensland Resorts Pty Ltd on October 31, 2016. Trustees Australia Limited will independently list Queensland Resorts Pty Ltd (QRPL) with a new name. As per the proposal, each Trustees Australia shareholder will receive 1 QRPL Share for each Trustees Australia share held on the record date for the transaction. QRPL will be listed on National Stock Exchange of Australia (NSX). The transaction is subject to approval from the shareholders of Trustees Australia Limited at a meeting which will be held on December 8, 2016. The transaction is approved by the Board of Directors of Trustees Australia Limited. As of July 31, 2017, approval of shareholders at the general meeting of Trustees Australia was obtained. The record date for the transaction is August 7, 2017. The transaction is expected to close on August 9, 2017. As of August 1, 2017, the transaction is expected to close on August 30, 2017. The shares of QRPL, renamed, Jimmy Crow Limited, are expected to commence trading on NSX on September 6, 2017.