Dia Met Minerals Forms Committee to Review Possible Share Restructuring.Business Editors KELOWNA, British Columbia--(BUSINESS WIRE)--March 9, 2000 Dia Met Minerals Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DMM See multimeter. DMM - Digital Multimeter .A.) (AMEX AMEX See: American Stock Exchange :DMM.A) (TSE:DMM.B.) (AMEX:DMM.B) announced today that a special committee of the Company's Board of Directors has been formed to assess the current dual class share structure, and to examine the merits and feasibility of consolidating the Company's Class A and Class B shares into a single class of common shares. Dia Met has retained Newcrest Capital Inc., a Toronto-based independent investment dealer, and Torys, a Toronto and New York-based law firm, to provide members of the special committee with appropriate advice on relevant investment banking, securities and legal issues. "We recognize that the current two-class share structure may deter potential investors and also hampers liquidity, both of which are concerns particularly among large Canadian and U.S. institutional investors," said James Eccott, Dia Met's President and Chief Executive Officer. "We believe a consolidation of the Class A and Class B shares would help us to address these issues, and we look forward to the committee's recommendations. This is the first of several initiatives we expect to announce in coming months, as we aggressively explore all options for unlocking shareholder value," he added. On a fully-diluted basis, Dia Met currently has approximately 10.2 million Class A shares outstanding, and approximately 22.1 million Class B shares outstanding. The Class A shares are entitled to one vote per share, and in certain circumstances, are convertible to one Class B share. The Class B shares are entitled to 10 votes per share. The Class A and Class B shares have the same rights and are equal in all respects, except as stated above. Dia Met Minerals is a publicly traded mineral exploration and development company with a primary focus on diamonds. The Company owns a 29% interest in the Core Zone joint venture of the Ekati(tm) Diamond Mine, Canada's first and only operating diamond mine. BHP BHP blood hydrostatic pressure; the pressure exerted by the blood cells and plasma in the capillaries. Diamonds Inc. is the operator of the mine, which commenced production in October 1998. In addition to its investment in the Ekati(tm) mine, Dia Met is carrying out an extensive global exploration program that is currently focused on Mauritania, Greenland, Finland and the Canadian North
The American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) have neither approved nor disapproved the information contained in this release. |
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