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CMI Announces Buy Back of Class A Shares
Friday July 31, 2009, 10:04 am

Original Announcement: Buy back of Class A Shares

CMI announced that it has entered into agreements with Trojan Equity, the largest CMI Class A shareholder, and other major Class A Shareholders representing 14.7% of the total Class A shares. Under these agreements, the Company must call a meeting of the shareholders of CMI to approve a buy back of all Class A shares at 63 cents per share. The board believes the proposed buy back is in the best interests of all shareholders having regard to: the need to simplify the capital structure of the Company; the apparent lack of liquidity in the market for Class A shareholders; and the cost to the Company of the Class A shares compared to the cost of fixed debt. The Company expects a meeting to be held by 31 October 2009.

More information about CMI.AX
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