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Additional Information
Market: ASX
Sector: General Mining - Copper
EPIC: EXS
Latest Price: A$0.16  (-3.13% Descending)
52-week High: A$0.73
52-week Low: A$0.15
Market Cap: A$54.49M
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Exco Resources
www.excoresources.com.au

Exco Resources Ltd has a clear development strategy for its highly prospective project portfolio. The portfolio currently includes the White Dam Gold Project in South Australia and the Cloncurry Copper Project in NW Queensland.

Full Exco Resources profile here
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Exco Resources plans capital reduction and A$35.6m return to shareholders

24th Oct 2011, 12:56 am

Exco Resources (ASX: EXS) is tabling a resolution for the November AGM to seek shareholder approval for a capital reduction and return of $0.10 per share - which equates to around $35.6 million.

Last week Exco received a Draft Class Ruling from the Australian Taxation Office indicating that the proposed distribution will not be taxed as a dividend.

Should the capital reduction be approved by the shareholders at the AGM, the board will declare a special dividend of $0.28, payable simultaneously with the capital return, which importantly will be fully franked.

The Record Date for both payments will be 2 December 2011.

The combined distributions will represent a return to shareholders of $135.3 million (fully diluted) in accordance with the company’s stated intentions following the sale of the Cloncurry Copper Project to Xstrata plc (LON: XTA).

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