If approved, the Class A Reduction will be distributed to Class A shareholders as a return of capital in an amount equal to
The Corporation’s Board of Directors has unanimously determined that the Return of Capital is in the best interests of the Corporation. All directors, either directly or through their holding company, representing approximately 64% of the issued and outstanding Class A shares and 77% of the Class B shares, have entered into voting support agreements with the Corporation in support of the Return of Capital and will be voting IN FAVOUR of the Return of Capital at the Meeting.
The payment of the Special Dividend is not conditional on any event, including the shareholder approval described above.
About Wilmington
Wilmington is a Canadian asset management company whose principal objective is to seek out investment opportunities in the alternative asset classes that provide shareholders with capital appreciation over the longer term as opposed to current income returns. Wilmington invests its own capital, alongside partners and co-investors, in hard assets and manages these assets through operating entities.
WILMINGTON CAPITAL MANAGEMENT INC.
For further information, please contact:
Executive Officers
(403) 705-8038
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. Forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial conditions, expected financial results, performance, opportunities, priorities, ongoing objectives, strategies and outlook of the Corporation and its investee entities and contain words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “seek”, or similar expressions and statements relating to matters that are not historical facts constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking statements contained in this news release include statements regarding the anticipated partial payment of the Special Dividend by way of Return of Capital and matters to be considered at the Meeting.
Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to materially differ from those reflected in the forward-looking statements. These risks and uncertainties include but are not limited to: regulatory issues that may arise in connection with the proposed dividend payment timing and failure to obtain the requisite level of shareholder support for the proposed Reduction in
Source:
2024 GlobeNewswire, Inc., source