Canadian Natural Resources Limited (TSX:CNQ)
to Distribute Shares of PrairieSky Royalty Ltd. (TSX:PSK) to its
Shareholders
TORONTO, May 24, 2016 /CNW/ - S&P Dow Jones
Canadian Index Services will make the following changes in the
S&P/TSX Canadian Indices:
Canadian Natural Resources Limited (TSX:CNQ) has
provided the details of its previously announced distribution to
its shareholders of a portion of its holding of 44,444,444 shares
of PrairieSky Royalty Ltd. (TSX:PSK). After the close of trading on
Tuesday, May 31, 2016, Canadian
Natural Resources shareholders will receive 0.02 shares of
PrairieSky for each share held. Canadian Natural Resources will
continue to hold just under 10% of the shares of PrairieSky.
After the close on May 31,
2016, there will be no adjustment to the price Canadian
Natural Resources stock. The spun out shares of PrairieSky will be
added to all indices where Canadian Natural Resources is a
constituent based on the terms above. An artificial placeholder
stock will be used for this distribution.
After the close on June 1,
2016, the artificial placeholder stock for PrairieSky will
be deleted from all indices where it is a constituent at the close
price of PrairieSky. At the same time, the IWF of PrairieSky will
increase from 0.79 to 0.89.
Note that, for indices where both Canadian
Natural Resources and PrairieSky are constituents, PrairieSky will
appear for the one day June
1st, 2016, with two different identifiers. There
will not be any double counting of shares of PrairieSky.
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