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.
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.