In view of the conversion, the Company has filled the Articles of Amendment giving effect to the capital stock modifications approved by the shareholders at the annual and special meeting of shareholders of April 28, 1995. The Company’s authorized capital is therefore now comprised of Class A Multiple Voting Shares, Class B Subordinate Voting Shares and Preferred Shares. As of today, all outstanding Common Shares have been converted into Class A Multiple Voting Shares.

FOREX is the largest manufacturer of structural OSB panels in Canada, and the fourth largest in the world.

The proposed conversion is conditional upon the Montreal Exchange accepting to list the Subordinate Voting Shares to be issued pursuant to the conversion.

Transocean Sedco Forex Inc. (NYSE:RIG) today announced that its board of directors has declared a cash dividend of $0.03 per share for the company’s ordinary shares. The dividend is payable on March 15, 2002 to shareholders of record on March 1, 2002.

The finalization of this agreement marks the starting point for a feasibility study that will extend over several months. This study will explore the different avenues from a technological perspective, the impact of a new plant on the industry in general, and possible financing methods.

posted by Administrator at 12:16 am & filed under Currency markets |