FREEPORT-McMoRan INC. COMMENCES COMMISSION-FREE SHAREHOLDER SALES PLAN FOR HOLDERS OF FEWER THAN 100 SHARES OF FREEPORT-McMoRan INC. COMMON STOCK.
CMSS will accumulate the common shares of participating shareholders and, beginning on or after January 2, 1996, sell such shares in round-lots in the open-market. Participating shareholders will receive a weighted average price per share that is based upon the gross sales price from actual open-market sales of shares accepted for tender through January 12, 1996. All commissions associated with the plan will be paid by FTX.
FTX makes no recommendation as to whether shareholders should participate in the plan, and the plan is not a solicitation by CMSS or FTX for FTX common stock. The plan will expire at 5:00 p.m. (New York City time) on January 12, 1996, unless extended by FTX.
FTX owns a 51.5% interest in Freeport-McMoRan Resource Partners, Limited Partnership which is engaged in the production of phosphate fertilizers and animal feed ingredients as well as the mining of phosphate rock through IMC-Agrico Company; the mining, transportation and terminalling of sulphur and the development and production of related oil reserves.
CONTACT: Freeport-McMoRan Inc., New Orleans
Craig E. Saporito, 504/582-4476
Chris D. Sammons, 504/582-4474
|Printer friendly Cite/link Email Feedback|
|Date:||Dec 11, 1995|
|Previous Article:||STB Systems, Inc. reports financial results for the fourth quarter and the 1995 fiscal year.|
|Next Article:||Greenman Bros. Inc. announces change of name to Noodle Kidoodle, Inc. and intention to trade on NASDAQ.|