NEWS: BHS Distribution of Silcom Shares Bayhorse Silver distribution of Silcom shares
2014-02-04 16:15 ET - Dividend Declared
The TSX Venture Exchange has approved Bayhorse Silver Inc.'s plan of arrangement dated Nov. 8, 2013, under Section 288 of the Business Corporations Act (British Columbia) involving the company and Silcom Systems Inc., as disclosed in the company's information circular dated Nov. 15, 2013. The arrangement was approved by a special resolution passed by the shareholders of Bayhorse at a meeting held on Dec. 13, 2013. The arrangement received approval from the Supreme Court of British Columbia on Jan. 24, 2014.
Pursuant to the arrangement, the company has agreed to transfer $100,000 of its working capital to Silcom. These transfers will be effected pursuant to the arrangement. Under the arrangement, the existing shareholders, in exchange for their common shares, will receive one new common share and one-quarter of a Silcom common share, determined in accordance with the Silcom reorganization ratio, as applicable, for every existing common share held on the effective date.
Distribution per share: one-quarter of a share of Silcom Systems Inc.
Payable date: Feb. 12, 2014
Record date: Feb. 10, 2014
Ex distribution date: Feb. 6, 2014
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