Business
Teck Cominco Limited announces small shareholder selling program
Teck Cominco Limited announces small shareholder selling program.
About this update from Teck Resources Limited Class A
[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 21 /CNW/ - Teck Cominco Limited (\"Teck Cominco\") (TSX:\nTCK.A, TCK.B, NYSE: TCK) today announced a small shareholder selling program\n(\"the Program\") that enables registered and beneficial shareholders who own 99\nor fewer Class A Common Shares and/or Class B Subordinate Voting Shares\n(\"Shares\") of Teck Cominco as of December 20, 2006, to sell their Shares\nwithout incurring any brokerage commission. The sale of Shares will be\nexecuted through the facilities of The Toronto Stock Exchange.\n\n\nThe voluntary Program begins on December 21, 2006 and will expire 5 pm\nE.S.T on February 28, 2007, unless extended, and is designed to assist\neligible shareholders in selling their Shares in a convenient and inexpensive\nmanner. Both registered holders and beneficial holders of Shares held in\nnominee form are eligible to participate. The program allows eligible\nshareholders the opportunity to either sell all, but not less than all, of\ntheir Class A Common Shares and/or Class B Subordinate Voting Shares, as\napplicable, or to continue to maintain their current holdings. Participating\nshareholders will not incur any brokerage commissions if they elect to dispose\nof their Shares. Information about the Program and participation documents\nwill be forwarded to eligible shareholders.\n\n\nAll Class A Common Shares and Class B Subordinate Voting Shares received\nwill be gathered into board lots (100 or more Shares) and sold no later than\n12 pm E.S.T. on the next business day on the TSX. The price to be received for\nthe Class A Common Shares and Class B Subordinate Voting Shares sold will be\nthe average price received for all shares of that class sold on a given day.\nCertificate(s) representing the odd lot Shares accompanied by duly completed\nand executed Letters of Transmittal will not be accepted by Georgeson after\n5 pm E.S.T. on February 28, 2007, unless the Program is extended. For the\nconvenience of shareholders resident in the United States, Shares will be sold\non the TSX and the proceeds will be converted into U.S. funds at the\nprevailing conversion rate at the time of sale.\n\n\nTeck Cominco is pleased to make this voluntary Program available to its\nshareholders. However, Teck Cominco makes no recommendation as to whether or\nnot an eligible shareholder should participate in the Program. The...