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Company believes the stock split may encourage greater market liquidity, wider distribution of its shares.
May 11, 2017
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
CCL Industries Inc. announced today that the previously announced split of the company’s outstanding Class A voting shares and Class B non-voting shares on a five-for-one basis was approved by shareholders at the Annual and Special Meeting of Shareholders of the company held on May 9, 2017. The company will proceed to file articles of amendment under the Canada Business Corporations Act to effect the stock split. The stock split has been conditionally approved by the Toronto Stock Exchange (TSX), subject to the delivery of certain documents. The stock split will not change the rights of holders of Class A voting shares and Class B non-voting shares and will not change a shareholder’s proportionate ownership in the company. Shareholders do not need to take any action. The company believes that the stock split may encourage greater market liquidity and wider distribution of its shares among a broader investor base.
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