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CCL Industries Announces a Proposed Five-for-One Stock Split

Will create greater market liquiditym wider distribution of shares among a broader investor base.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

CCL Industries Inc. announced that it proposes to split its Class A voting shares and Class B non-voting shares on a five-for-one basis. The proposed stock split has been approved by the company’s Board of Directors and requires the approval of the holders of the Class A voting shares at the annual and special meeting of CCL’s shareholders scheduled to be held in Toronto, Ontario, on May 9, 2017. The stock split is also subject to the requirements of the TSX.
 
Following shareholder approval of the stock split, it is expected that shareholders of record as of the close of business on May 26, 2017, will receive from CCL’s transfer agent four additional Class A voting shares or four additional Class B non-voting shares, as applicable, for each share held.
 
“We believe that the stock split and the resulting increase in the number of shares outstanding will encourage greater market liquidity and wider distribution of its shares among a broader investor base,” said Geoffrey T. Martin, president and CEO of CCL.

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