TORONTO, March 24 /PRNewswire-FirstCall/ -- IAMGOLD Corporation ("IAMGOLD" or "the Company"), on 3 February 2006, applied for admission to the Official List of the ASX and quotation of approximately 26,212,850 common shares of IAMGOLD, over which CHESS Depository Interests (CDIs) would be issued. This represented the estimated number of IAMGOLD shares to be issued to former shareholders of Gallery Gold Limited ("Gallery") pursuant to the terms of the Gallery Scheme of Arrangement under Part 5.1 of the Australian Corporations Act 2001 (the "Scheme").
Pursuant to the terms of the Scheme, Gallery shareholders entitled to participate in the Scheme (and eligible to receive IAMGOLD shares as consideration under the Scheme) were entitled to receive for every 22 Gallery shares held:
- 10 Chess Depository Interests; or
- at the shareholder's election, one IAMGOLD share (tradeable on the
Toronto Stock Exchange or the New York Stock Exchange, but not the
ASX).
Various Gallery shareholders have elected to receive IAMGOLD shares instead of CDIs.
Accordingly, IAMGOLD confirms that 165,186,350 CDIs have been issued to former shareholders of Gallery pursuant to the Scheme and quoted on the ASX.
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© 2006 PR Newswire
