NEWS: DE announces DRiP! Decisive Dividend Corporation Announces Dividend Reinvestment and Cash Purchase Plan and Stock Option Issuance 12/10/2018 08:31 AM ET
Dec 10, 2018 (TheNewswire.ca via COMTEX News Network) -- (via TheNewswire)
Kelowna, British Columbia / TheNewswire / December 10, 2018 - Decisive Dividend Corporation (TSX-V: DE) (the "Corporation" or "DDC") announced today that its Board of Directors has approved the adoption of a dividend reinvestment and cash purchase plan (the "DRIP") effective for its regular monthly dividend payable on January 15, 2019 to its shareholders of record on December 31, 2018. The adoption of the DRIP is subject to final approval of the TSX Venture Exchange.
James Paterson, the Chief Executive Officer of DDC commented "We are proud to be able to offer our shareholders opportunities as we grow and develop with the DRIP being the next logical choice to be added to the DDC offering to shareholders".
The DRIP provides eligible shareholders of the Corporation with the opportunity to reinvest the dividends they receive on common shares ("Shares") of the Corporation in additional Shares at a 3% discount to the volume weighted average closing trading price (the "Average Closing Price") of the Shares on the TSX Venture Exchange (the "TSXV") for the five (5) trading days preceding the dividend payment date of the Shares and without incurring brokerage fees or commissions.
The DRIP also permits eligible shareholders of the Corporation to purchase new Shares by way of an additional cash payment (the "Cash Payment Option"). The purchase price for the Cash Payment Option will be the Average Closing Price of the Shares and without brokerage fees or commissions. The minimum permitted monthly optional cash purchase under the Cash Payment Option is $100.00, and no participant may make optional cash purchases in excess of $10,000.00 in one financial year. The aggregate number of Shares purchased pursuant to the Cash Payment Option during any financial year is subject to a maximum of two percent (2%) of the total number of outstanding Shares at the commencement of such financial year.
The maximum number of Shares that may be issued under the DRIP is 400,000 Shares (subject to increase from time to time pursuant to a written amendment authorized by the Corporation's board of directors). Shares purchased through the DRIP will be issued directly from the treasury of the Corporation.
Registered shareholders of the Corporation may enroll by completing the enrollment form which will be made available on the website of the Corporation at www.decisivedividend.com commencing on December 14, 2018 and submitting it to Computershare Trust Company of Canada at the address set forth in the enrollment form. Beneficial shareholders of the Corporation are encouraged to contact their broker or other intermediary for enrolment information.
DDC also announced today that it has granted to Mr. Rick Torriero, the Corporation's Chief Financial Officer, options to purchase an aggregate of 10,000 common shares of the Corporation. The options are exercisable until December 10, 2028 at an exercise price per share of the greater of (i) $4.00; or (ii) the closing market price of the Shares on the TSX Venture Exchange on December 10, 2018.
The options were granted pursuant to the Corporation's 10% rolling stock option plan, a copy of which is available for review on the Corporation's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About Decisive Dividend Corporation
Decisive Dividend Corporation is an acquisition-oriented company, focusing on the manufacturing sector. The Corporation uses a disciplined acquisition strategy to identify already profitable, established companies that have strong management teams, generate steady cash flow, operate in non-cyclical markets, and have opportunity for future growth.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rick Torriero, Chief Financial Officer
#201, 1674 Bertram Street Kelowna, BC V1Y 9G4 Telephone: (250) 870-9146
Cautionary Statements
This press release contains forward-looking statements. These statements relate to the monthly dividend policy adopted by the directors of the Corporation. The declaration and payment of dividends are subject to solvency tests under applicable corporate law. There can be no assurance that the directors of the Corporation will declare any dividends in the future or, if dividends are declared, there can be no assurance as to the frequency or amount of such dividends. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Copyright (c) 2018 TheNewswire - All rights reserved.