Canada may loosen Cameco restrictions

Source: Paydirt

Date: July 2000

Title: Canada may loosen Cameco restrictions

Cameco Corp. said May 18 it was advised that day the Canadian government intended to introduce legislation in the House of Commons to allow more foreign ownership of the company's shares.

Currently only 5 percent of the shares can be held by individual non-residents and a total of 20 percent by non-residents. That would increase to 15 and 25 percent, respectively.

The restrictions had been put in place when the government privatized Eldorado Nuclear, a predecessor of Cameco, which is the world's largest uranium producer.

The legislative changes arc designed to give the compay more opportunity to access investment capital and greater flexibility to compete in a global market.