1:2 Share Split By Rio Tinto Zinc

Press, Volume CIX, Issue 32253, 23 March 1970, Page 19

1:2 Share Split By Rio Tinto Zinc

Rio Tinto Zinc Corporation, Ltd, the giant British mining holding and investment company, will split its present 10s shares into two shares of 5s face value.

The company announced this in a notice to shareholders published in British I papers on Thursday morning. The 10s shares, which were .about _l2fis_.h»frac-_JJ?o. sffl't ing the sandflies and the] rzss oa in* mbiuing trading' in London. i The split will effectively | halve the price and increase I the appeal of the shares to smaller investors.

i The total number of shares - on issue will b* doubled to i more than 203 million. The split proposal will be > submitted to shareholders at society conservatively esti-1 i me company proposes to announce results and dividend r for 1969 on April 6 and mail ' the annual report to share- ' holders on April 23. Because of the share split, - R.T.Z.’s offer for Pillar, the , large United Kingdom aluminium fabricator and distri- ! butor with rapidly expanding ; interests in Australia, will be ; adjusted to a one-for-two in- ! stead of one-for-four as prei viously announced. ; The offer will be one 5s ; share for two ordinary 2s Pil- ■ lar shares. ' Formal offer documents : will be mailed to Pillar ; shareholders along with a ; copy of R.T.Z.’s annual report • on April 23.