Vancouver, BC – Teck Resources Limited (“Teck”) (TSX: TCK.A, TCK.B, NYSE: TCK) announced today an odd lot selling program ("the Program") which enables registered and beneficial shareholders who own 99 or fewer Class A Common Shares and/or Class B Subordinate Voting Shares ("Shares") of Teck as of February 23, 2011, to sell their Shares without incurring any brokerage commission.
The voluntary Program begins on February 24, 2011 and will expire at 5 pm E.T. on April 6, 2011, unless extended, and is designed to assist eligible shareholders in selling their Shares in a convenient and inexpensive manner. Both registered holders and beneficial holders of Shares held in nominee form are eligible to participate. The program allows eligible shareholders the opportunity to sell all, but not less than all, of their Class A Common Shares and/or Class B Subordinate Voting Shares, as applicable, or to continue to maintain their current holdings. Participating shareholders will not incur any brokerage commissions if they elect to dispose of their Shares. Information about the Program and participation documents will be forwarded to eligible shareholders.
Certificate(s) representing the odd lot Shares accompanied by duly completed and executed Letters of Transmittal will not be accepted by Laurel Hill Advisory Group after 5 pm E.T. on April 6, 2011, unless the Program is extended. All Class A Common Shares and Class B Subordinate Voting Shares will be sold on the TSX. For the convenience of shareholders resident in the United States, Shares will be sold on the TSX and the proceeds will be converted into U.S. funds at the prevailing conversion rate at the time of sale.
Teck is pleased to make this voluntary Program available to its shareholders. However, Teck makes no recommendation as to whether or not an eligible shareholder should participate in the Program. The decision to participate should be based upon a shareholder’s particular financial and tax circumstances. Eligible shareholders may wish to obtain advice from their broker or financial advisor as to the advisability of participating.
Teck has retained Laurel Hill Advisory Group to manage the Program and to handle share transactions and payment. Questions regarding the Program should be directed to Laurel Hill at toll free 1-866-892-5387 (English), 1-877-304-0211 (français), or 416-304-0211 (collect).
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK.
For further information, please contact:
Karen L. Dunfee
Corporate Secretary, Legal