Mar 2 Aoû 2011 17:25
First Quantum shareholders approve stock split
First Quantum shareholders approve stock split
Tue Aug 2, 2011 7:29am EDT
TORONTO (Reuters) - First Quantum Minerals Ltd (FM.TO: Quote) said on Tuesday its shareholders voted in favor of a five-for-one stock split that was put forward by the board in June, a move expected to boost liquidity and widen its investor base.
The Vancouver, British Columbia-based miner said its common shares will commence trading on the Toronto Stock Exchange on a split basis on August 9. The record date for the stock split will be August 11.
The share split was approved at a special meeting of shareholders on July 29. The stock split will not change the rights of holders of common shares, First Quantum said in a statement.
The copper and gold miner operates mines in Mauritania and Zambia. It is also in the process of developing projects in Australia, Finland and Peru.
First Quantum shares, which have risen over 20 percent so far this year, closed at C$132.46 on Friday on the Toronto Stock Exchange.
(Reporting by Euan Rocha and Aftab Ahmed, editing by Gerald E. McCormick)