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Freeport-McMoRan Copper & Gold, Dep Shares Silver Denom Preferred
Ticker Symbol: FCX-D* CUSIP: 35671D865 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/01/2006
Security has been Called for: Tuesday, August 1, 2006
June 15, 2006 -- Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX - News) announced today the final mandatory redemption, on August 1, 2006, of its Silver-Denominated Preferred Stock and the related redemption of each remaining outstanding depositary share representing 0.003125 shares of its Silver-Denominated Preferred Stock (NYSE: FCX Pr D, CUSIP 35671D865). There are currently 4,760,000 depositary shares of FCX Pr D outstanding. Each depositary share of FCX Pr D will be redeemed for a cash amount equal to the dollar equivalent of the value of 0.5 ounce of silver, calculated using the average of the London silver fixing spot price for an ounce of silver in the London bullion market on each of the 20 trading days ending on June 28, 2006. In addition, holders of the depositary shares of FCX Pr D as of July 17, 2006, will be entitled to receive the final regular quarterly dividends payable on August 1, 2006. The redemption on August 1, 2006, will be the final of eight annual mandatory partial redemptions. Written notice of the specific terms for the final mandatory redemption, along with a transmittal form, will be mailed to registered holders of the depositary shares by Mellon Investor Services LLC (Mellon), the redemption agent, on or about June 15, 2006. Registered holders of depositary shares will be instructed to deliver the transmittal form along with their certificates representing depositary shares to Mellon in order to receive the redemption amount plus any accrued and unpaid dividends. Any questions may also be directed to Mellon at 1-800-777-3674. The distribution of cash proceeds from the mandatory redemption will be a taxable event. Depositary shareholders consult their tax advisors regarding their individual circumstances.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Freeport-McMoRan Copper & Gold, Inc., Depositary Shares each initially representing 0.025 shares of Silver-Denominated Preferred Stock, liquidation value is equal to the dollar equivalent of 0.5 ounces of silver per depositary share, price to the public $21.01 per depositary share, with the total number of shares declining beginning 8/1/99 as a result of the annual redemption of Silver-Denominated Preferred Stock. Each depositary share has a cumulative quarterly cash distribution equal to the value of 0.04125 ounces of silver per depositary share for the first 20 quarters after issue, paid on 2/1, 5/1, 8/1 & 11/1 to holders of record on the date fixed by the board. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (FCX)
IPO - 7/22/1994 - 4.76 Million Shares @ $21.01/share.
Link to IPO Prospectus
Market Value $44.8 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 1615 Poydras Street, New Orleans, LA 70112 |
| Main Phone Number |
504-582-4000 |
| Fax Number |
504-582-4899 |
| Investor Contact
David P. Joint
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504-582-4203
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| Toll Free Phone Number |
800-535-7094 |
| CEO - Richard C. Adkerson |
CFO - Kathleen L. Quirk |
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