Standard & Poor's Announces Changes in the S&P/TSX SmallCap and Global Mining Indices
18.10.2011 | CNW
TORONTO, Oct. 18, 2011 /CNW/ - Standard & Poor's will make the following changes in the S&P/TSX SmallCap and Global Mining Indices:Shareholders of Western Copper Corporation approved on October 3, 2011, the Plan of Arrangement whereby the company will spin out certain copper interests to shareholders. For every 2 shares of Western Copper held, shareholders will receive 1 share of a new company named Copper North Mining Corp. and 1 share of a new company named NorthIsle Copper and Gold Inc. Copper North and NorthIsle Copper will trade on TSX Venture Exchange for the first time (the ex-date of the spin-off) on October 20, 2011, under the ticker symbols 'COL' and 'NCX' respectively. The spun out shares of Copper North and NorthIsle Copper will be added at zero price to the S&P/TSX SmallCap and Equity SmallCap, the S&P/TSX Global Mining and Global Base Metals and the S&P/TSX Equal Weight Global Base Metals Indices after the close of trading on Wednesday, October 19, 2011.
Effective after the close of Thursday, October 20, 2011, the shares of Copper North and NorthIsle Copper will be removed from the same five indices
Also effective after the close of Wednesday, October 19, 2011, Western Copper will trade under the new name Western Copper and Gold Corporation. There will be no change to the ticker symbol 'WRN'.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
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