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Newmont Mining to redeem convertible preferreds for stock
New York, April 12 - Newmont Mining Corp. said it is calling its $3.25 convertible preferred stock.
The call will be on May 15, 2002.
The Denver, Colo. gold miner will pay the call in common stock at the rate of 1.9187 shares per convertible. Fractional shares will be paid in cash.
Newmont said the stock is equivalent to the redemption price of $51.1375, made up of $50.325 per share for the convertibles plus $0.8125 per share for accrued dividends. Newmont will not pay the regular May 15 cash dividend.
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