Shell Canada Announces Proposed Share Split
Shell Canada Limited announced plans to implement a three-for-one division, or 'share split', of its issued and outstanding common shares. The decision, which has been approved by the Company's Board of Directors, must be approved by the shareholders at the Company's annual and special meeting on April 29, 2005. Subject to shareholder approval, the record date will be June 23, 2005.
Since June 1997, when the Company last completed a three-for-one share split, Shell Canada's share price has risen from around $20 to over $90 in 2005.
"This share split is expected to benefit all shareholders by increasing the number of shares available for trading, and encouraging wider ownership of our shares," said Clive Mather, President and Chief Executive Officer.
Shell Canada has approximately 275 million common shares outstanding. Shell Investments Limited, a member of the Royal Dutch/Shell Group of Companies, holds approximately 214.4 million shares, or about 78% of those shares.
Shell Canada's common shares trade on the Toronto Stock Exchange under the symbol SHC.
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