TORONTO, Feb. 24, 2012 /CNW/ - Look Communications Inc. ("Look" or the "Company") (NEX: LOK.H; LOK.K) today announced that it will distribute an
aggregate amount of $6,985,076.20 to the holders of its multiple voting
shares and subordinate voting shares, on a pro rata basis, as a return
of capital. Based on the number of multiple voting shares and
subordinate voting shares outstanding on the date of this news release,
shareholders will receive $0.05 for each multiple voting share and
subordinate voting share held.
The record date for determining holders of multiple voting shares and
subordinate voting shares who are entitled to receive the distribution
has been fixed as March 6, 2012. The Company expects that payment of
the distribution will be made to registered holders of multiple voting
shares and subordinate voting shares on or about March 13, 2011.
Certain statements contained in this news release constitute
forward-looking information within the meaning of applicable Canadian
securities laws. The words "may", "attempt", "expect", "will" and
similar expressions are intended to identify forward-looking
information. Such information reflects Look's current views with
respect to future events and are subject to certain risks,
uncertainties and assumptions. Many factors could cause actual results
that may be expressed or implied by such forward-looking statements to
vary from those described herein should one or more of these risks or
uncertainties materialize, including, among others, Look's ability to
pay the return of capital in a timely manner or at all and the tax
consequences to any particular shareholder of the return of capital.
Except as required by law, Look does not assume any obligation to
update or revise the forward looking statements contained in this news
release to reflect actual events or new circumstances.
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.
SOURCE Look Communications Inc.
For further information:
Grant McCutcheon, Director, Look at (416) 613-8222