Finning Announces Plans for a Two for One Share Split

Finning International last week announced that its board of directors has recommended that shareholders approve a two-for-one division, or share split, of its issued and outstanding common shares. The required shareholder approval will be sought at Finning's annual meeting of shareholders scheduled for May 9. In addition, the stock split is subject to receipt of all required regulatory approvals.

If the proposed subdivision is approved by shareholders at the meeting, it is expected that the record date for the subdivision would occur by the end of May 2007. Certificates for the additional common shares resulting from the subdivision will be mailed to shareholders as soon as possible after the record date. Shareholders should retain their existing share certificates and not send them to Finning or its transfer agent.

"The decision to recommend a stock split reflects the profitable growth that Finning has experienced as well as the bright outlook for the future," said Doug Whitehead, president and CEO of Finning International. "The recommendation reflects our desire to increase the liquidity of our stock to benefit existing and new shareholders, and in addition to encourage wider ownership by supporting trading at a more accessible price per share. If approved by the shareholders, this will be the fifth two-for-one share split in the company's history."

Vancouver, British Columbia-based Finning International sells, rents and provides customer support services for Caterpillar equipment and engines in Western Canada, the United Kingdom, and South America (Argentina, Bolivia, Chile and Uruguay). No. 16 on the RER 100, Finning also owns Hewden, the largest equipment rental business in the U.K.