Equity Alert on HL,
Hecla Shareholders Approve Stock Plans
COEUR D'ALENE, Idaho, Jul 18, 2002 (BUSINESS WIRE) -- By an overwhelming margin, Hecla Mining Company (NYSE:HL)(NYSE:HL-PrB) shareholders today approved three proposals submitted to them in the 2002 proxy statement.
The May 10, 2002, annual meeting of shareholders had been adjourned until today for the purpose of meeting New York Stock Exchange rules requiring that a majority of outstanding common shares be voted on the proposals. A majority of the shareholders voting were in favor of an amendment to the existing 1995 Stock Incentive Plan, an amendment to the Corporation's existing Stock Plan for Nonemployee Directors and an adoption of a Key Employee Deferred Compensation Plan. Approximately 73% of the shares present at the meeting were voted in favor of the three proposals. About 39.5 million shares were voted, representing more than 53% of the outstanding shares. No further action was taken at the meeting and the 2002 annual meeting of shareholders was closed.
NYSE NEWS
Hecla has been notified by the New York Stock Exchange that the company's average stock price was above the NYSE's minimum requirement of $1.00 over a 30-day trading period, and therefore is viewed as "in good standing" with the NYSE. In December 2001, Hecla's stock had fallen below the minimum share price requirement, and a 30-day trading period ending June 26, 2002, was set as the target for Hecla's stock to reach an average of over $1.00 per share. The company met and exceeded that goal, attaining an average closing price during the period of $4.23.
Hecla Mining Company, headquartered in Coeur d'Alene, Idaho, mines and processes silver and gold in the United States, Venezuela and Mexico. A 111-year-old company, Hecla has long been well known in the mining world and financial markets as a primary silver producer. Hecla's common and preferred shares are traded on the New York Stock Exchange under the symbols HL and HL-PrB.
CONTACT: Hecla Mining Company
Vicki J. Veltkamp, 208/769-4144
hecla-mining.com
businesswire.com
URL: businesswire.com |
