Wilmington Capital Management Inc. Announces Dividend Elections
CALGARY, Alberta, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Wilmington Capital Management Inc. (TSX:WCM.A, WCM.B) (“Wilmington”) today announced the elections made in respect of the previously announced dividend of 0.25 Class A Non-Voting Shares (“Class A Shares”) or, if properly elected, $1.00 cash, for each Class A Share or Class B Voting Share (“Class B Share”) held. As a result of elections, an aggregate of 2,046,274 Class A Shares will be issued and $2,092,452 cash paid pursuant to the dividend. The dividend is payable on December 17, 2019.
Wilmington’s transfer agent, AST Trust Company, will send registered shareholders a DRS advice representing 0.25 additional Class A Shares or, if properly elected, $1.00 cash for each Class A Share or Class B Share held as of the close of business on December 5, 2019, less, in each case, any applicable withholding taxes for non-Canadian resident shareholders. Fractional entitlements of less than 0.5 of a Class A Share will be rounded down to the nearest whole number of Class A Shares and fractional entitlements of 0.5 or more of a Class A Share will be rounded up to the nearest whole number of Class A Shares. Holders of Class A Shares or Class B Shares who hold their shares in the name of a nominee (i.e. deposited with a securities broker, bank or other institution) will not receive a DRS advice or payment, and instead will need to contact their nominee for further information as to their entitlement to the dividend.
Wilmington is a Canadian investment and asset management company whose principal objective is to seek out investment opportunities in the real estate sector, in the energy sector through private equity funds and in special situations, which provide shareholders with capital appreciation over the longer term as opposed to current income returns. The special dividend is in keeping with Wilmington’s history of rewarding its shareholders when a significant monetization event has occurred.
Cautionary Statement in Forward-Looking Information
Certain of the statements made and information contained herein, other than statements of historical fact and historical information, is “forward-looking information” within the meaning of applicable Canadian securities laws. Such statements include, but are not limited to, payment of the dividend and declaration of future dividends, and timing and amount thereof. Words such as “if”, “will be”, “may” and “schedule”, or variations of these terms or similar terminology or statements that certain actions, events or results “could” occur or be achieved are intended to identify such forward-looking information. Although Wilmington believes that the expectations reflected in the forward-looking information contained herein are reasonable, these statements by their nature involve risks and uncertainties, and are not guarantees of future performance. Forward-looking information is based on a number of assumptions, and subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers should not to place undue reliance on forward-looking statements. Wilmington disclaims any intention or obligation to update or revise any forward‐looking statements or to explain any material difference between subsequent actual events and such forward‐looking statements, except to the extent required by applicable law.
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