Coeur D'Alene Mines Corporation Announces Mandatory Conversion of Its Outstanding Marcs.Business Editors COEUR D'ALENE Coeur d'Alene, city, United States Coeur d'Alene (kûrdəlān`), city (1990 pop. 24,563), seat of Kootenai co., N Idaho, near the Wash. line; inc. 1907. , Idaho--(BUSINESS WIRE)--March 8, 2000 Coeur d'Alene Mines Corporation (NYSE NYSE See: New York Stock Exchange :CDE (1) (Computer Desktop Encyclopedia) What you are reading at this very moment. See About this product. (2) (Common Desktop Environment) A user interface for desktop computing from The Open Group. ) today announced that on March 15, 2000, each outstanding share of its Mandatory Adjustable Redeemable Convertible Securities (MARCS) will be mandatorily converted into 1.111 shares of common stock of the Company and the right to receive cash in an amount equal to accrued and unpaid dividends Unpaid dividend A dividend declared by the directors of a corporation that has not yet been paid. unpaid dividend 1. A declared dividend that has not yet been paid. 2. See passed dividend. on such shares. Cash will be paid in lieu of fractional shares. Promptly after March 15, 2000, the Company's transfer agent for the MARCS will send to each holder of the MARCS a Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. that will include instructions as to the procedures to be followed for implementing the mandatory conversion. As a result of the mandatory conversion, the Company expects to issue a maximum of 7.9 million additional common shares, which will increase the number of outstanding common shares to approximately 37 million. Coeur d'Alene Mines Corporation is North America's leading low-cost primary silver producer and is a significant international gold producer as well. The Company has mining interests in Nevada, Idaho, Alaska, Chile, Bolivia and Australia. |
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