|
contents | news | |||||||||
| Cemex announces two-for-one stock split Cemex S.A.B. de C.V. announced that beginning on July 17, 2006, trading in its Ordinary Participation Certificates ("CPOs") and beginning on July 24, 2006 trading in its American Depositary Shares ("ADSs") will reflect its previously announced two-for-one stock split. In connection with the stock split, which was approved by Cemex's shareholders on April 27, 2006, each of Cemex's existing series A shares will be surrendered in exchange for two new series A shares, and each of Cemex's existing series B shares will be surrendered in exchange for two new series B shares. Each existing CPO, which represents two existing series A shares and one existing series B share, will be surrendered in exchange for two new CPOs. Each new CPO will represent two new series A shares and one new series B share. The new CPOs will be identical in all material respects to the existing CPOs. Beginning on July 24, 2006, trading on the New York Stock Exchange will reflect the stock split as each ADS holder will receive one additional ADS for every existing ADS, each representing ten new CPOs. During the period between July 17 and July 21, 2006, the number of CEMEX's existing ADSs, each of which currently represents ten CPOs, will not change; instead it will include the right to receive an additional ADS on July 24, 2006. write your comments about the article :: © 2006 Construction News :: home page |