03/09 9:59A (DJ) +DJ Dia Met Forms Committee To Study Share Restructuring
KELOWNA, B.C. (Dow Jones)--Dia Met Minerals Ltd. (DMMB) said it has formed a
special committee of its board to study the consolidation of its current Class
A and Class B shares into a single class of common shares.
In a news release, Dia Met said it has hired Newcrest Capital Inc., a
Toronto investment dealer, and Torys, a Toronto and New York law firm, to
provide the committee advice on relevant investment banking, securities and
legal issues.
The company said "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."
It said it believes a consolidation of the Class A and Class B shares would
help address these issues.
Dia Met said "this is the first of several initiatives we expect to announce
in coming months, as we aggressively explore all options for unlocking
shareholder value." It didn't elaborate.
Dia Met said that, on a diluted basis, it currently has about 10.2 million
Class A shares outstanding, which carry one vote, and about 22.1 million Class
B shares, which carry 10 votes.
Dia Met is a mineral exploration and development company with a primary
focus on diamonds.
Dia Met is a mineral exploration and development company with a primary
focus on diamonds.
-Judy McKinnon, Dow Jones Newswires; 416-306-2100
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