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CP Ships Begins Trading on TSE and NYSE
| 03.10.01 London, UK (03 October 2001) - CP Ships, one of the world's top ten container shipping companies, began trading on the Toronto Stock Exchange and the New York Stock Exchange today under the symbol TEU. The listings follow the reorganization of the company's former parent, Canadian Pacific Limited, which was completed on October 1, 2001. Effective today, CP Ships is also included in the S&P/TSE 60 Index of top Canadian publicly listed companies, as well as the TSE 300 and the S&P Global 1200. A leader in the majority of its core markets, CP Ships' earnings have consistently exceeded cost of capital throughout the business cycle. It is the only container shipping company to be listed in North America. "Being publicly traded on TSE and NYSE as an independent company gives us the chance to demonstrate our proven track record of building shareholder value to a wider range of equity investors," commented CEO Ray Miles. The company's executive committee consists of Mr Miles, Chief Operating Officer Frank Halliwell and Chief Financial Officer Ian Webber. In addition to the three executive directors, CP Ships' Board has six non-executive directors:
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