TORONTO, Feb. 24, 2012 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX) is pleased to announce that its Board of Directors has
authorized a $4.00 per share cash distribution to the holders of
Jovian's common shares by way of a return of capital, subject to
receipt of all necessary regulatory and shareholder approvals.
To effect the distribution as a return of capital, shareholders of
Jovian will be required to approve a reduction in Jovian's stated
capital. Full details regarding the return of capital and related
reduction in stated capital will be included in a Management
Information Circular that will be delivered to shareholders in
connection with an upcoming Special Meeting of Shareholders currently
anticipated to be held in April.
About Jovian Capital Corporation
Jovian acquires, creates and grows financial services companies
specializing in two primary market segments: wealth management and
traditional asset managers. The Jovian group of companies (MGI
Securities Inc., MGI Securities (USA) Inc., T.E. Wealth, Leon Frazer &
Associates Inc., Hahn Investment Stewards & Company Inc., JovFinancial
Solutions Inc. and JovPortfolio Management Inc.) manages approximately
$6.3 billion of client assets ($4.9 billion in assets under management
and $1.4 billion in assets under administration). Additional
information is available at www.joviancapital.com and www.sedar.com.
SOURCE Jovian Capital Corporation
For further information:
Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or
Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752.