East West Petroleum Announces Cash Distribution to Shareholders by Way of Return of Capital
East West Petroleum Corp. (TSXV: EW) has announced a cash distribution to shareholders through a return of capital. The company will distribute $0.03 per common share, totaling $2,714,569.95 based on current outstanding shares. This decision follows shareholder approval at a special meeting on August 16, 2024. The distribution will be effective for registered shareholders as of September 5, 2024.
The process involves reducing the company's stated capital by $2,714,569.95 and includes a series of deemed sequential steps, such as reclassifying existing common shares into Class A common shares and creating a new class of common shares. Registered shareholders will receive cheques from Computershare Investor Services Inc., while beneficial shareholders will receive payment through their intermediaries.
East West Petroleum Corp. (TSXV: EW) ha annunciato una distribuzione in contanti ai propri azionisti tramite un rimborso di capitale. L'azienda distribuirà 0,03 $ per azione ordinaria, per un totale di 2.714.569,95 $ basato sul numero attuale di azioni in circolazione. Questa decisione segue l'approvazione degli azionisti in un incontro speciale del 16 agosto 2024. La distribuzione sarà effettiva per gli azionisti registrati a partire dal 5 settembre 2024.
Il processo prevede la riduzione del capitale dichiarato dell'azienda di 2.714.569,95 $ e include una serie di passaggi sequenziali considerati, come la riclassificazione delle azioni ordinarie esistenti in azioni ordinarie di Classe A e la creazione di una nuova classe di azioni ordinarie. Gli azionisti registrati riceveranno assegni da Computershare Investor Services Inc., mentre gli azionisti beneficiari riceveranno il pagamento tramite i loro intermediari.
East West Petroleum Corp. (TSXV: EW) ha anunciado una distribución en efectivo a los accionistas a través de un reembolso de capital. La empresa distribuirá $0.03 por acción común, totalizando $2,714,569.95 basado en las acciones en circulación actuales. Esta decisión sigue a la aprobación de los accionistas en una reunión especial el 16 de agosto de 2024. La distribución será efectiva para los accionistas registrados a partir del 5 de septiembre de 2024.
El proceso implica reducir el capital declarado de la empresa en $2,714,569.95 e incluye una serie de pasos secuenciales considerados, como la reclasificación de las acciones comunes existentes en acciones comunes de Clase A y la creación de una nueva clase de acciones comunes. Los accionistas registrados recibirán cheques de Computershare Investor Services Inc., mientras que los accionistas beneficiarios recibirán el pago a través de sus intermediarios.
East West Petroleum Corp. (TSXV: EW)는 자본 반환을 통해 주주에게 현금 배당을 발표했습니다. 회사는 현재 발행된 주식에 따라 주당 0.03달러, 총 2,714,569.95달러를 배당할 예정입니다. 이 결정은 2024년 8월 16일 열린 특별 회의에서 주주들의 승인을 따릅니다. 배당은 2024년 9월 5일 기준으로 등록된 주주에게 유효합니다.
이 과정은 회사의 명시된 자본을 2,714,569.95달러 줄이는 것을 포함하며, 기존의 보통주를 A등급 보통주로 재분류하고 새로운 보통주 클래스를 만드는 등 일련의 의도된 순차적 단계를 포함합니다. 등록된 주주는 Computershare Investor Services Inc.로부터 수표를 받게 되며, 수혜 주주는 중개인을 통해 지불을 받게 됩니다.
East West Petroleum Corp. (TSXV: EW) a annoncé une distributions en espèces aux actionnaires via un remboursement de capital. La société distribuera 0,03 $ par action ordinaire, totalisant 2.714.569,95 $ en fonction des actions en circulation actuelles. Cette décision fait suite à l'approbation des actionnaires lors d'une assemblée spéciale le 16 août 2024. La distribution sera effective pour les actionnaires enregistrés à partir du 5 septembre 2024.
Le processus implique une réduction du capital déclaré de la société de 2.714.569,95 $ et comprend une série d'étapes séquentielles considérées, telles que la reclassement des actions ordinaires existantes en actions ordinaires de classe A et la création d'une nouvelle classe d'actions ordinaires. Les actionnaires enregistrés recevront des chèques de Computershare Investor Services Inc., tandis que les actionnaires bénéficiaires recevront le paiement par l'intermédiaire de leurs intermédiaires.
East West Petroleum Corp. (TSXV: EW) hat eine Barausschüttung an die Aktionäre durch eine Kapitalrückführung angekündigt. Das Unternehmen wird 0,03 $ pro Stammaktie verteilen, was insgesamt 2.714.569,95 $ entspricht, basierend auf den derzeit ausstehenden Aktien. Diese Entscheidung folgt der Genehmigung der Aktionäre in einer außerordentlichen Sitzung am 16. August 2024. Die Ausschüttung wird ab dem 5. September 2024 für registrierte Aktionäre wirksam sein.
Der Prozess beinhaltet eine Reduzierung des angegebenen Kapitals des Unternehmens um 2.714.569,95 $ und umfasst eine Reihe von durchdachten sequenziellen Schritten, wie die Umklassifizierung bestehender Stammaktien in Stammaktien der Klasse A und die Schaffung einer neuen Klasse von Stammaktien. Registrierte Aktionäre erhalten Schecks von Computershare Investor Services Inc., während begünstigte Aktionäre die Zahlung über ihre Intermediäre erhalten.
- Cash distribution of $0.03 per share to shareholders
- Total distribution amount of $2,714,569.95
- Shareholder approval obtained for the capital reduction
- Reduction in company's stated capital by $2,714,569.95
Vancouver, British Columbia--(Newsfile Corp. - August 29, 2024) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to announce that, further to its news release of August 16, 2024, it will distribute to holders of common shares of the Company ("Shareholders") by way of a return of capital,
At the special meeting of Shareholders held on August 16, 2024 (the "Meeting"), Shareholders approved the reduction of the stated capital of the Company (the "Capital Reduction") for the purposes of the Distribution. The stated capital of the Company will be reduced by
Each registered Shareholder of record on September 5, 2024 (the "Effective Date") will receive a cheque from the Company's paying agent, Computershare Investor Services Inc., representing their pro rata share of the Distribution. Beneficial Shareholders can expect to receive payment from their intermediaries, each of whom has its own payment process.
The Capital Reduction will involve a series of deemed sequential steps, including a reclassification of the previously existing common shares of the Company into Class A common shares (the "Class A Common Shares"), the creation of a new class of common shares of the Company (the "New Common Shares") and the exchange of Class A Common Shares for New Common Shares. As described in the management information circular of the Company in respect of the Meeting (the "Circular"), these deemed steps will be effected without any further action or formality being required on the part of Shareholders. A copy of the Circular is available free of charge under the Company's profile at the Canadian Securities Administrators' website at www.sedarplus.ca.
On Behalf of the Board
"Nick DeMare"
Nick DeMare,
Director & Interim CEO
604.685.9316
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements relating to the proposed Capital Reduction and the Distribution and the anticipated timing of the completion of the Capital Reduction and the Distribution.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. In respect of the forward-looking statements and information concerning the anticipated payout of the Distribution, the Company has made certain assumptions that management believes are reasonable at this time. These dates may change for a number of reasons and readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221460
FAQ
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