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
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
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
SOURCE: Regal Lifestyle Communities Inc.
For further information:
Chief Financial Officer
Regal Lifestyle Communities Inc.