VANCOUVER, Feb. 18, 2014 /CNW/ - WesternOne Inc. (TSX: WEQ, WEQ.DB, WEQ.DB.B and WEQ.DB.C) ("WesternOne") today announced that its Board of Directors has approved a cash dividend of $0.05 per share for the month of February 2014 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on March 17, 2014 to shareholders of record at the close of business on February 28, 2014.
During January 2014, 31,545 common shares were issued at $5.25 per share in connection with the conversion of $165,000 principal amount in 8.5% Convertible Unsecured Subordinated Debentures (plus accrued interest), 3,340 common shares were issued at $7.50 per share in connection with the conversion of $25,000 principal amount in 8% Convertible Series 2 Unsecured Subordinated Debentures (plus accrued interest) and 843,000 common shares were issued at $7.68 per share in connection with the previously announced over-allotment option exercise. As at January 31, 2014, WesternOne had 31,037,584 common shares, $3,292,000 principal amount of 8.5% Convertible Unsecured Subordinated Debentures, $71,077,000 principal amount of 8% Convertible Series 2 Unsecured Subordinated Debentures and $51,750,000 principal amount of 6.25% Convertible Series 3 Unsecured Subordinated Debentures outstanding.
The policy of WesternOne is to pay cash dividends on or about the 15th day of each month to shareholders of record on the last business day of the preceding month.
WesternOne today also announced the scheduling of its Q4 2013 Financial Results Conference Call. Robert King, CEO, Carlos Yam, CFO and Geoff Shorten, President & COO, of WesternOne, Mike Ridley, President of Britco and Chris Gardner EVP of Britco will host a conference call at 4:30pm (Eastern time) or 1:30pm (Pacific time), on Thursday March 13, 2014, to review the financial results and corporate developments for the year ended December 31, 2013.
To participate in this conference call, please dial one of the following numbers approximately 10 minutes prior to the commencement of the call, and ask to join the WesternOne conference call.
|Dial in numbers:||Toll Free||1-888-390-0546|
|International or Local Toronto||1-416-764-8688|
Conference Call Replay
If you cannot participate on March 13, 2014, a replay of the conference call will be available by dialing one of the following replay numbers. You will be able to dial in and listen to the conference two hours after the meeting end time, and the replay will be available until March 20, 2014. Please enter the Replay ID number 706943 followed by the # key.
|Replay Dial-In:||Toll Free||1-888-390-0541|
|International or Local Toronto||1-416-764-8677|
WesternOne seeks to acquire and grow businesses in the construction and infrastructure services sector in order to generate stable and growing dividends to its shareholders and to achieve capital appreciation.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
SOURCE: WesternOne Inc.
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