Denbury Announces Two-For-One Stock Split
Denbury Resources announced Board approval of a two-for-one split of its common stock. The stock split is subject to stockholder approval to increase the number of authorized common stock from 250 to 600 million shares and split the stock. A special stockholders' meeting is scheduled for Monday, November 19, 2007 for stockholders of record as of October 8, 2007. The record and meeting date are tentative until the proxy is finalized and mailed to stockholders in mid-October.
If the stock split is approved, Denbury’s issued and outstanding common stock will increase from 122 million to 244 million shares after the stock split. If the meeting is held on November 19, the stock split should take effect for holders of record on December 5, 2007.
Denbury is an independent oil and gas company. It is the largest oil and natural gas operator in Mississippi, owns the largest reserves of CO2 used for tertiary oil recovery east of the Mississippi River, and holds operating acreage onshore Louisiana, Alabama, in the Barnett Shale play near Fort Worth, Texas, and properties in Southeast Texas.
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