|By Marketwired .||
|December 13, 2013 07:01 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/13/13 -- Strategem Capital Corporation ("Strategem" or the "Company") (TSX VENTURE: SGE) is informing current and prospective shareholders of the "Due Bill" trading requirements in relation to the special dividend of $0.50 per Class A common share (the "Class A Shares") announced on December 9, 2013 (the "Special Dividend").
As previously announced, the Special Dividend will be paid on December 30, 2013 (the "Payment Date") to shareholders of the record as at the close of business on December 23, 2013 (the "Record Date"). As the amount of the Special Dividend represents a distribution greater than 25% of the Class A Share price as at the declaration date, it will be subject to the "Due Bill" trading requirements of the TSX Venture Exchange (the "Exchange"). Accordingly, the Exchange has required that the Class A Shares trade on a "Due Bill" basis from December 19, 2013 until close of trading on the Payment Date (the "Due Bill Period"). This means that sellers who sell Class A shares during the Due Bill Period shall also sell their entitlement to the Special Dividend to the respective purchasers of such Class A Shares. The Class A Shares will commence trading on an ex-distribution basis (i.e. without an attached "Due Bill" entitlement to the Special Dividend) from the opening of trading on December 31, 2013 (i.e. the next trading day after the Payment Date). The Due Bills will be redeemed on January 3, 2014 once all trades with attached Due Bills entered during the Due Bill Period have settled.
About Strategem Capital Corporation
Strategem Capital Corporation is a publicly-traded merchant bank specializing in the development of emerging companies with above average growth potential. The current focus is on companies that explore and develop precious or base metals.
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.
Strategem Capital Corporation
President & Chief Executive Officer