Regal Lifestyle Communities Inc. Announces Dividend Reinvestment Plan
TORONTO, Dec. 3, 2013 /CNW/ - Regal Lifestyle Communities Inc. ("Regal" or the "Company") (TSX:RLC) announced today that it has adopted a Dividend Reinvestment Plan (the "Plan"). Under the Plan, holders of common shares who are residents of Canada may elect to have cash dividends paid on their common shares reinvested into additional common shares of the Company.
"Our Dividend Reinvestment Plan enables the Company to issue additional shares to existing shareholders in an efficient and cost-effective manner while providing an excellent opportunity for all investors to participate in the growth of Regal through reinvesting their dividends, increasing their holdings and maximizing their investment in the Company," said Simon Nyilassy, President and Chief Executive Officer of Regal.
The Plan provides eligible holders with the opportunity to reinvest dividends into common shares of the Company without paying any commission, service charges or brokerage fees. Common shares purchased under the Plan will, at the discretion of the Company (i) be purchased on the Canadian open market (a "Market Purchase") including through the facilities of the Toronto Stock Exchange (the "TSX"), (ii) be issued by the Company from treasury (a "Treasury Purchase"), or (iii) be acquired through some combination of Market Purchases and Treasury Purchases.
If the Company elects to issue common shares pursuant to a Treasury Purchase, such common shares will be purchased under the Plan at a 3% discount to the Average Market Price (as defined under the Plan) on the applicable dividend payment date.
Eligible holders of common shares who are residents of Canada may now elect to participate in the Plan commencing with the December monthly cash dividend, payable on January 15, 2014 to holders of record on December 31, 2013.
For those eligible holders of common shares who hold their common shares with an intermediary, we invite you to participate in the Plan, simply by notifying the bank or brokerage firm with whom you hold your shares of your interest in the Plan. Registered holders can enroll directly through Computershare Trust Company of Canada (the "Plan Agent") online at www.investorcentre.com. If you require further information regarding the Plan, including with respect to enrolment deadlines, please contact the Plan Agent (1-800-564-6253 toll free). All administrative costs of the Plan, including the fees and expenses of the Plan Agent, will be paid by the Company; however, eligible holders who enroll in the Plan through their broker, investment dealer, financial institution or other nominee who holds common shares on behalf of eligible beneficial owners of common shares (each, a "Nominee") may be subject to fees charged by their respective Nominee.
A copy of the Plan will be made available on the Company's website at www.regallc.com under the Investor Relations section and will also be available from the Plan Agent, by calling (1-800-564-6253 toll free). Eligible holders should carefully read the complete text of the Plan before making any decisions regarding their participation in the Plan.
About Regal Lifestyle Communities Inc.
Regal Lifestyle Communities Inc. is a corporation incorporated under the laws of the Province of Ontario which currently owns a portfolio of 14 income-producing retirement communities offering a continuum of care from independent serviced living to a full range of assisted living programs. The Company's portfolio is comprised of over 1,900 suites in homes, primarily located in the Province of Ontario and including a home located in each of the Provinces of Saskatchewan and Newfoundland and Labrador.
For more information, visit the Company's issuer profile at www.sedar.com.
Forward Looking Information
Certain information in this press release may constitute forward-looking statements that involve a number of risks and uncertainties, including statements with respect to the expected future growth of the Company. Forward-looking statements use the words "believe", "expect", "anticipate", "may", "should", "intend", "estimate" and other similar terms, which do not relate to historical matters. Such forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause the actual results to differ materially from those indicated. Such factors include, but are not limited to, general economic conditions, the Company's ability to integrate acquisitions, changes in the law or regulations concerning the seniors housing industry and the Company's ability to maintain good relations with its employees (collectively, the "Risks"). For more exhaustive information on these Risks you should refer to the Company's filings with the securities regulatory authorities, including the Company's most recently filed annual information form, which is available on SEDAR at www.sedar.com.
The Company believes that the expectations reflected in its forward-looking statements are based on reasonable assumptions; however, the Company can give no assurance that actual results will be consistent with these forward-looking statements. Except as required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Readers should be cautioned not to place undue reliance on the forward-looking statements. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
SOURCE Regal Lifestyle Communities Inc.For further information:
Chief Financial Officer
Regal Lifestyle Communities Inc.