NEW YORK, Nov. 15, 2013 /CNW/ - MDC Partners Inc. ("MDC Partners") announced today that Toronto Stock Exchange ("TSX") has determined to implement "due bill" trading in order to facilitate the same process on TSX and NASDAQ for the previously announced three-for-two stock split of its outstanding Class A and Class B shares.
As previously announced, the additional shares issued as part of the stock split will continue to be distributed to shareholders of record at the close of business on November 22, 2013. The transfer agent will continue to distribute confirmation of the additional shares on November 27, 2013.
Trading is expected to begin on a post-split basis on TSX at market opening on November 28, 2013 and on NASDAQ at market opening on November 29, 2013. The shares are expected to trade on a "due bill" basis on TSX between market opening on November 20, 2013 and market closing on November 27, 2013; and on NASDAQ between market opening on November 20, 2013 and market closing on November 28, 2013.
About MDC Partners Inc.
MDC Partners is one of the world's largest Business Transformation Organizations that utilizes technology, marketing communications, data analytics, insights and strategic consulting solutions to drive meaningful returns on Marketing and Communications Investments for multinational clients in the United States, Canada, and worldwide.
MDC Partners' durable competitive advantage is to Empower the Most Talented Entrepreneurial Thought Leaders to Drive Business Success to new levels of Achievement, for both our Clients and our Shareholders, reinforcing MDC Partners' reputation as "The Place Where Great Talent Lives."
MDC Partners' Class A shares are publicly traded on NASDAQ under the symbol "MDCA" and on the Toronto Stock Exchange under the symbol "MDZ.A".
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties which may cause the actual results or objectives to be materially different from those expressed or implied by such forward-looking statements. Such risk factors include, among other things, MDC Partners' financial performance; risks associated with the effects of economic downturns; ability to attract and retain key clients; ongoing compliance with debt agreements and MDC Partners' ability to satisfy contingent payment obligations when due; and other risk factors set forth in MDC Partners' Form 10-K for its fiscal year ended December 31, 2012 and subsequent SEC filings.
Chief Financial Officer
SOURCE: MDC Partners Inc.