Talisman Energy Plans Three-For-One Share Split
Talisman Energy Inc. (TSX, NYSE: TLM) plans to implement a three-for-one division, or 'share split', of its issued and outstanding common shares. The decision has been approved by Talisman's Board of Directors. The Company believes that the share split will encourage greater market liquidity and wider distribution among retail investors.
Shareholder approval will be sought at Talisman's annual and special meeting of shareholders scheduled for May 9, 2006 in Calgary, Alberta. In addition to shareholder approval, the stock split is subject to the receipt of all required regulatory approvals. If approved, each shareholder will receive two additional common shares for each common share held on the record date for the stock split of May 25, 2006. Pursuant to the rules of the Toronto Stock Exchange, Talisman's common shares will commence trading on a subdivided basis at the opening of business on May 23, 2006, which is the second trading day preceding the record date. Also on May 23, 2006, Talisman's common shares listed on the New York Stock Exchange (NYSE) will commence trading with rights entitling holders to two additional common shares for each common share held upon the commencement of trading of the common shares on a subdivided basis on the NYSE. The trading of common shares on a subdivided basis on the NYSE will occur one day after the delivery of share certificates to registered holders of Talisman's common shares. It is anticipated that share certificates representing the additional common shares resulting from the stock split will be mailed to registered common shareholders on or about May 30, 2006.
Talisman Energy Inc. is a large, independent upstream oil and gas
company headquartered in Calgary, Alberta, Canada. Talisman has
operations in Canada and its subsidiaries operate in the North Sea,
Southeast Asia, Australia, North Africa, the United States and
Trinidad and Tobago. Talisman's subsidiaries are also active in a
number of other international areas, including Colombia, Gabon, Peru,
Romania and Qatar. Talisman is committed to conducting its business
in an ethically, socially and environmentally responsible manner and
is a participant in the United Nations Global Compact, a voluntary
initiative that brings together companies, governments, civil society
and other groups to advance human rights, labour and environmental
principles. Talisman's shares are listed on the Toronto Stock
Exchange in Canada and the New York Stock Exchange in the United
States under the symbol TLM.
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