NOB SHARES DOWN HERE ARE SCARCE PEEPS WANT DIVIDEND PAYMENT$ PLEASE LOG THESE DATES IN YOUR DD
After the Dividend has been distributed, Noble anticipates that it will continue to hold nearly 2 million common shares of CNC, not including the additional shares of CNC that Noble would receive if it completes the proposed transactions with CNC that are subject to approval by shareholders of Noble at its shareholder meeting on March 14, 2022.
The Board of Directors of Noble has approved the Dividend and established the close of business on Monday, April 18, 2022 (the “Record Date”) as the record date for the Dividend. The Board of Directors has also established that the Dividend will be paid on or about Monday April 25, 2022 (the “Dividend Payment Date”). Based on the current value of CNC shares, the Dividend corresponds to more than 25% of the current value of Noble’s shares. As a result, the TSX Venture Exchange (the “Exchange”) will require Noble’s shares to trade on a “Due Bill” basis starting from the opening of trading on April 14, 2022 (the last trading day before the Record Date) until the close of business on April 25, 2022 (the “Due Bill Period’).
The Due Bill is effectively the entitlement to receive the Dividend. Shareholders who sell shares of Noble during the Due Bill Period will also sell their entitlement to the Dividend to the parties purchasing those Noble shares. The Company’s common shares will begin trading on an ex-dividend basis, or without the entitlement to the Dividend, from the opening of trading on April 26, 2022 (being the next trading day after the Dividend Payment Date). The Due Bills will be redeemed on April 27, 2022 once all trades with the attached Due Bills entered during the Due Bill Period have settled.