Standard & Poor's Announces Changes in the S&P/TSX Canadian Indices
18.04.2012 | CNW
TORONTO, April 18, 2012 /CNW/ - Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices: NovaGold Resources Inc. has announced the implementation schedule for the previously announced spinoff of its copper assets in Alaska. Shareholders of NovaGold will receive one share of NovaCopper Inc. for every 6 common shares of NovaGold held.The S&P/TSX indices that are affected by this spinout are:
- S&P/TSX Composite and Capped Composite Index
- S&P/TSX Equity and Capped Equity Index
- S&P/TSX Completion and Equity Completion Index
- S&P/TSX Capped Materials Index
- S&P/TSX Composite Equal Weight Index
- S&P/TSX Global Mining and Global Gold Index
After the close of trading on Monday, April 30, 2012, the close price of NovaGold will be adjusted downward by 1/6(th) of the close price of NovaCopper in the when-issued market on TSX. New divisors will be generated for all indices.
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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CONTACT:
Standard & Poor's Canadian Index Operations
Tony North
(416) 507-3204
sp_index@standardandpoors.com
Dave Guarino
1 212 438 1471
Dave_guarino@standardandpoors.com