As part of its effort to avert an unsolicited take-over by SHERRITT COAL ACQUISITION, FORDING has announced the payment of $3.00/share to each of its shareholders. The payment would be made to holders of common shares on the date that Fording successfully becomes an income trust, probably by year-end.
Fording's plans are subject to shareholder approval and other considerations. Company executives earlier recommended that investors not sell their Fording shares to Sherritt for the offered $29.00/share.
Full details of the proposal are available at www.fording.ca