ECONOMIC INVESTMENT TRUST LIMITED ANNOUNCES A PROPOSED TEN FOR ONE SPLIT OF ITS COMMON SHARES
Canada NewsWire
TORONTO, Feb. 11, 2025
TORONTO, Feb. 11, 2025 /CNW/ - The Board of Directors of Economic Investment Trust Limited ("the Company") (TSX: EVT) today announced that the Company will seek shareholder and regulatory approval for the implementation of a ten-for-one share split of the Company's issued and outstanding Common Shares, to be effected through an amendment to its articles of continuance. The share split will be subject to the approval of the Company's shareholders at its annual and special meeting scheduled to be held on April 30, 2025 (the "Meeting") and to the requirements of the Toronto Stock Exchange ("TSX").
The Board of Directors believes that the share split will increase investor interest in the Company by bringing the trading price into a more accessible range for retail investors, encouraging a wider distribution of the Common Shares and enhancing liquidity.
If approved by shareholders and the TSX and implemented by the Board of Directors, shareholders will be entitled to ten Common Shares for each Common Share held at a date to be approved by the Board of Directors following shareholder approval.
The dividends of $22.70 and $4.57 per Common Share payable on March 31, 2025 to shareholders of record on March 14, 2025 will not be affected by the proposed share split. If the required approvals are received and the share split is implemented by the Board of Directors, all subsequent dividends declared by the Board of Directors are expected to reflect the proposed share split.
Details regarding the share split will be set out in the management information circular for the Meeting, which will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Shareholders are encouraged to read the management information circular and other relevant materials when they become available.
SOURCE Economic Investment Trust Limited
View original content: http://www.newswire.ca/en/releases/archive/February2025/11/c8613.html
/CONTACT:
For further information please contact: Scott Ewert, Vice President, Telephone: (416) 947-2578, Fax: (416) 362-2592, www.evt.ca
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(END) Dow Jones Newswires
February 11, 2025 18:44 ET (23:44 GMT)
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