Friday, December 23, 2011
Magna Resources Ltd. ("Magna" or the "Company") has announced a subdivision of its outstanding share capital on the basis of two new shares for each existing share held. Each shareholder of record of the Company as of the close of business on the Record Date will receive one additional Share for each Share held on such date.
The Company will use the direct registration system, also known as DRS, to electronically register the Shares of the Company issued pursuant to the Share Split, rather than issuing paper certificates. Registered shareholders should retain their current share certificates, which will remain valid and will continue to represent the number of Shares indicated on those certificates. A DRS advice, indicating the additional Shares to which registered shareholders are entitled as a result of the Share Split, will be mailed to shareholders of record as of the Record Date, as soon as reasonably practicable following such date. The combination of the existing share certificates and the new DRS advices will represent each registered shareholder's total post-split shareholdings. For beneficial shareholders who hold their Shares in an account with their investment dealer or other intermediary, their account will be automatically updated to reflect the Share Split.
The shares will begin trading on a split basis at the open on Wednesday, December 28, 2011. Upon completion of the split, there will be approximately 22,420,000 shares issued and outstanding.
Magna's symbol and CUSIP will remain the same.
All open orders will be purged from the book at the market close on Friday, December 23, 2011. Dealers are reminded to re-enter their orders on "MNA" taking into account the two-for-one stock split.
Listing and disclosure documents for Magna Resources are available in the Listings Disclosure Hall.
Record Date: Friday, December 30, 2011
Effective Date: Wednesday, December 28th, 2011
If you have any questions or require further information please contact Radhika at (416) 572-2000 X 2435 or E-mail: email@example.com