Business
Major Drilling Announces 3:1 Stock Split
Major Drilling Announces 3:1 Stock Split
About this update from Major Drilling Group International Inc.
[{"type":"text","content":"\n\n\n\n Dec. 7, 2010 (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\nMONCTON, NB, Dec. 7 /CNW/ - Major Drilling Group International Inc.\n (TSX: MDI) ("Major Drilling" or the "Company") announced today that its\n board of directors has approved a stock split of the Company's issued\n and outstanding common shares (the "Common Shares") on a three (3) for\n one (1) basis. The record date for the stock split is March 23, 2011.\n This decision is subject to shareholder approval, to approval by the\n Toronto Stock Exchange and to the filing by the Company of articles of\n amendment.  If approved, each shareholder will receive two additional\n Common Shares for each Common Share held on the stock split record\n date.  Pursuant to the rules of the Toronto Stock Exchange, the\n Company's Common Shares will commence trading on a subdivided basis at\n the opening of the business on March 21, 2011, being the second trading\n day prior to the stock split record date. Share certificates\n representing the additional common shares resulting from the stock\n split will be mailed to the Company's registered shareholders.\n\n\nThe Company intends to maintain its dividend policy, as adjusted to take\n into account the stock split.\n\n\nIt is believed that the stock split will encourage greater liquidity for\n the Company's Common Shares and provide opportunities for ownership of\n the Company's Common Shares by a wider group of investors.\n\n\nA Special Meetin...