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Updated: 01-May-23 04:46 ET

TECK: Teck Resources announces receipt of final order approving plan of arrangement and further details in respect of Sunset for dual class share structure (46.60)

Teck Resources announced that the Supreme Court of British Columbia has issued a final order approving the previously announced plan of arrangement under the Canada Business Corporations Act to introduce a six-year sunset for the multiple voting rights attached to the Class A common shares of Teck.
As explained more fully in Teck's management proxy circular dated March 23, 2023, which includes the plan of arrangement, on the effective date of May 12, 2023, each Class A common share will be acquired by Teck in exchange for one new Class A common share and 0.67 of a Class B subordinate voting share. The terms of the new Class A common shares will be identical to the terms of the current Class A common shares, but will provide that, on the sixth anniversary of the effective date of the Dual Class Amendment, being May 12, 2029, all new Class A common shares will automatically be exchanged for Class B subordinate voting shares, which will be renamed "common shares".
Class A common shareholders of record as of the close of business on May 11, 2023 will receive from TSX Trust Company, Teck's registrar and transfer agent, on or about May 19, 2023 0.67 of a Class B subordinate voting share per each Class A common share.