West Perth-based iron ore company Murchison Metals Ltd will join the S&P/ASX 200 next week, following the departure of Smorgon Steel Group Ltd from the influential list.
West Perth-based iron ore company Murchison Metals Ltd will join the S&P/ASX 200 next week, following the departure of Smorgon Steel Group Ltd from the influential list.
The full text of a company announcement is pasted below
Standard & Poor's Index Services Australia today announced that it will remove Smorgon Steel Group Ltd. (ASX: SSX) from the S&P/ASX indices, subject to court approval of the proposed scheme of arrangement under which the company would be acquired by Onesteel Ltd. If approval is received, Smorgon Steel Group Ltd. will be removed from the S&P/ASX indices after the close of business on Aug. 3, 2007.
The vacancy created by the removal of Smorgon Steel Group Ltd. in both the S&P/ASX 200 and the S&P/ASX All Australian 200 will be filled by Murchison Metals Ltd. (ASX: MMX). This will become effective after the close of trading on Aug. 3, 2007.
Murchison Metals Ltd. is an iron ore exploration and mining company.
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