Shares of Leo Lithium (ASX:LLL) held steady in recent Friday trade after it said in a late Thursday filing that it would return tranche 2 funds from the Goulamina sale to shareholders and prepare for automatic delisting from the Australian Securities Exchange.

The board, having found no suitable acquisition opportunities, will return the tranche 2 funds in the fourth quarter, with details to be disclosed after a strategic review and distribution expected by mid-October, the filing said.

The company shares will be automatically delisted from the exchange on Sept. 22, following two years of trading suspension, with shareholders retaining ownership and receiving share certificates, per the filing.

After delisting, shares can be transferred off-market, and shareholders should update their details with Computershare for seamless communication and payments, the filing added.