TORONTO, Sept. 21, 2015 /CNW/ - Callidus Capital Corporation (the "Company" or "Callidus") is pleased to announce the implementation of a dividend reinvestment plan (the "Plan"), which has received approval from the Toronto Stock Exchange ("TSX").
The Plan provides eligible holders of common shares of the Company ("Common Shares") with a convenient means to purchase additional Common Shares ("Plan Shares") by reinvesting their cash dividends without payment of brokerage commissions or service charges. The Plan Shares will be purchased from the open market unless the Company elects to issue them from treasury. If purchased on the open market, the price of such shares will be the average price paid per Plan Share for all Plan Shares purchased during the three (3) business days following the relevant dividend payment date. If the company elects to issue Plan Shares from treasury, such shares will be purchased under the Plan at a 5% discount of the average closing price of the Common Shares on the TSX for the five (5) consecutive trading days immediately prior to the applicable dividend payment date.
Holders of Common Shares who are resident in Canada are eligible to participate in the Plan. Eligible shareholders may elect to participate in the Plan commencing with the dividends to be paid on October 20, 2015 to shareholders of record as of September 30, 2015.
The full text of the Plan may be obtained on the Company's website at www.calliduscapital.ca and on Computershare's website at www.investorcentre.com. Eligible beneficial shareholders who wish to participate in the Plan should contact their investment advisor, bank or brokerage firm to enroll in the Plan. Eligible registered shareholders may enroll online at Computershare's web portal located at www.investorcentre.com.
Shareholders should carefully read the complete text of the Plan before making any decisions regarding participation in the Plan.
About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions who demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus credit facilities have few, if any, covenants and are based on the value of the company's assets, its enterprise value and borrowing needs. Callidus employs a proprietary system of monitoring collateral and exercising control over the cash inflow and outflows of each borrower, enabling Callidus to very effectively manage any risk of loss.
SOURCE Callidus Capital Corporation
For further information: David Reese, President and Chief Operating Officer, Callidus Capital Corporation, Phone: 416-945-3016, E-mail: [email protected]; www.calliduscapital.ca