Reverse split news officially announced.
COEUR D'ALENE, Idaho, May 18, 2009 (BUSINESS WIRE) -- Coeur d'Alene Mines Corporation (CDE)(CA:CDM)(ASX:CXC) today announced that its board of directors has authorized a one-for-ten reverse split of its common stock, which was approved by Coeur stockholders at the Annual Meeting of Stockholders on May 12, 2009. The reverse split will be effective at 6:01 p.m. EDT on May 26, 2009. The 1-for-10 reverse stock split will convert 10 shares of the Company's common stock into 1 share of common stock. The reverse stock split affects all issued and outstanding shares of the Company's common stock immediately prior to the effectiveness of the reverse stock split. The same 1-for-10 reverse stock split ratio will be used to effect the reverse split of the Company's CHESS Depositary Interests, or CDIs. The Company's common stock will start trading on a split-adjusted basis on the New York Stock Exchange at market open on May 27, 2009. Coeur's common stock will begin trading on the Toronto Stock Exchange on a split-adjusted basis two to three trading days following the date upon which letters of transmittal are sent to stockholders. Letters of transmittal are expected to be sent to stockholders on or about May 29, 2009. The number of shares of Coeur common stock issued and outstanding will be reduced from approximately 686,320,000 shares, to approximately 68,632,000 shares post-split, without accounting for fractional shares. The number of shares reserved for issuance under Coeur's equity compensation plans will also be reduced proportionately. Coeur will not issue any fractional shares of its common stock as a result of the reverse stock split. Instead, stockholders who would otherwise hold fractional shares will be entitled to receive cash (without interest or deduction) in lieu of such fractional shares in an amount equal to the fraction to which the shareholder would otherwise be entitled multiplied by the closing sales price of Coeur's common stock as reported on the NYSE or TSX, as applicable, on May 26, 2009, as adjusted for the reverse stock split. Coeur has retained Mellon Investor Services LLC, to act as exchange agent for the reverse stock split. Mellon will manage the exchange of old, pre-reverse stock split shares for new post-reverse stock split shares. Stockholders of record as of the Effective Time, which is May 26, 6:01 p.m. EDT, will receive a letter of transmittal providing instructions for the exchange of their shares. Stockholders who hold their shares in "street name" will be contacted by their banks or brokers with any instructions. For further information, stockholders and securities brokers should contact Mellon at 1-866-223-5997 after May 27, 2009. Computershare Investor Services will serve as the exchange agent with respect to the Australian CDIs. For further information, CDI holders should contact Computershare at 1300 850 505 (from outside Australia +61 3 9415 4000). The Company has posted a Frequently Asked Questions (FAQ) document to its website at . About Coeur Coeur d'Alene Mines Corporation is one of the world's leading silver companies and also a significant gold producer. Coeur will have its first full year of production this year at the world's largest pure silver mine - San Bartolome in Bolivia - and began production in March at another world-leading silver mine - Palmarejo in Mexico. The Company also operates underground mines in southern Chile and Argentina and one surface mine in Nevada; and owns non-operating interests in two low-cost mines in Australia. The Company also owns a major gold project - Kensington in Alaska - and conducts exploration activities in Argentina, Chile and Mexico. Coeur common shares are traded on the New York Stock Exchange under the symbol CDE, the Toronto Stock Exchange under the symbol CDM, and its CHESS Depositary Interests are traded on the Australian Securities Exchange under symbol CXC.
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