Business
LABRADOR IRON ORE ROYALTY CORPORATION CLARIFIES TIMING OF TWO-FOR-ONE SUBDIVISION OF STAPLED UNITS APPROVED BY UNITHOLDERS ON MAY 30, 2011
Jun. 14, 2011 (Canada NewsWire Group) -- TORONTO, June 14, 2011 /CNW/ - Labrador Iron Ore Roy...
About this update from Labrador Iron Ore Royalty Corporation
[{"type":"text","content":"\n\n\n Jun. 14, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, June 14, 2011 /CNW/ - Labrador Iron Ore Royalty Corporation\n (TSX: LIF.UN) ("LIORC") announced today that it has filed articles of\n amendment and entered into an amendment to the note deposit agreement\n to subdivide its stapled units on a two-for-one basis with effect on\n July 1, 2011. The new certificates will be mailed to registered holders\n of stapled units on July 4, 2011.\n\nThe stapled units will commence trading on the Toronto Stock Exchange on\n a subdivided basis at the opening of business on June 28, 2011 (and not\n on June 29, 2011 as previously announced on May 30, 2011) as the July\n 1, 2011 record date for the subdivision is a statutory holiday.\n\nLIORC also confirmed that the cash distribution of $0.75 per stapled\n unit announced on May 30, 2011 payable to holders of record at the\n close of business on June 30, 2011 and to be paid to such holders on\n July 25, 2011 is payable on a pre-subdivision basis. As such, the $0.75\n distribution will represent $0.375 per outstanding stapled unit on the\n date of payment.\n\nAbout LIORC\nLIORC is a Canada corporation resulting from the conversion of Labrador\n Iron Ore Royalty Income Fund (the "Fund") under an Arrangement\n effective July 1, 2010. It holds a 15.10% equity interest in Iron Ore\n Company of Canada ("IOC") directly and through its wholly-owned\n subsidiary, Hollinger-Hanna Limited, and receives a 7% ...