What is the main purpose of the amendment to Southern Copper's bylaws?

The main purpose is to allow Southern Copper Corporation to issue uncertificated shares, which enables the company to participate in the Direct Registration System (DRS).

What are the benefits of the Direct Registration System (DRS) for investors?

The DRS allows investors to have their securities registered electronically in their names without receiving physical certificates. It also facilitates electronic transfers and can reduce the risks and delays associated with handling physical stock certificates.

Will Southern Copper stop issuing physical stock certificates entirely?

No, the amendment to the bylaws still allows registered stockholders to request a physical stock certificate if they prefer.

When did this bylaw change become effective?

The amendment to Article VII of the Bylaws became effective on January 27, 2011.

SCCO 8-K: Corporate Changes

Summary

Southern Copper Corporation (SCCO) filed an 8-K on January 31, 2011, to report an amendment to its corporate bylaws. Effective January 27, 2011, the Board of Directors amended Article VII of the Bylaws to permit the issuance of uncertificated shares. This change is significant as it allows SCCO to participate in the Direct Registration System (DRS) administered by The Depository Trust Company.

Key Highlights

1Amendment to Bylaws to allow for uncertificated shares.
2Effective date of amendment: January 27, 2011.
3Enables participation in the Direct Registration System (DRS).
4DRS facilitates electronic share registration and transfers.
5Reduces risks and delays associated with physical stock certificates.
6Registered stockholders can still request physical certificates if desired.

SOUTHERN COPPER CORP/ 8-K Report, Bylaw Amendment (Jan 31, 2011)

Summary

Key Highlights

Frequently Asked Questions