SEATTLE, Nov. 27, 2013 /CNW/ - Wireless Matrix Corporation
(NEX: WRX.H) ("Wireless Matrix" or the "Corporation") announces
that its Board of Directors has declared a second and final
distribution to the holders ("Shareholders") of common shares of
the Corporation ("Common Shares") in the aggregate amount of
US$3,129,250.93, or US$0.03723 per Common Share (the "Distribution
Payment"), in connection with the liquidation and ultimate
dissolution of Wireless Matrix.
The Distribution Payment will paid on
December 6, 2013, to Shareholders of
record at the close of business on December
4, 2013, and will be made as a return of capital, with the
stated capital of the Common Shares being reduced
accordingly. The aggregate Distribution Payment to be paid to
each Shareholder of record shall be rounded up or down to the
nearest whole cent. Shareholders do not need to tender their
Common Shares to the Corporation in order to be eligible to receive
the Distribution Payment.
Pursuant to the due bill trading procedures
of the NEX, the Common Shares will commence trading on a "due
bills" basis on the NEX effective from the opening on December 2, 2013 to and including the payment
date of December 6, 2013.
Sellers of Common Shares on the NEX from December 2, 2013 to and including December 6, 2013, will not be entitled to the
Distribution Payment. Holders of Common Shares, including
purchasers of Common Shares, on December 6,
2013, will be entitled to receive the Distribution Payment.
The Common Shares will commence trading on the NEX on an
ex-distribution basis effective from the opening on December 9, 2013 (being the first trading date on
which purchases of the Common Shares will no longer have an
attaching right to the Distribution Payment). The due
bills will be redeemed on December 11,
2013, once all trades with attached due bills entered into
up to December 6, 2013 have
settled.
Following the payment of the Distribution
Payment, the Corporation will have no further assets or
liabilities. Effective as at the close of business on December 9, 2013, at the Corporation's request,
the Common Shares will be delisted from the NEX board of the TSX
Venture Exchange. As a result, as of the close of business on
December 9, 2013, the share transfer
books of Wireless Matrix will be closed and thereafter no further
transfers of Common Shares will be recognized by the
Corporation.
As previously announced by the Corporation and
approved by the Shareholders, Wireless Matrix will proceed with its
dissolution by filing Articles of Dissolution on or about
December 13, 2013, upon which all
issued and outstanding Common Shares will be cancelled
automatically without any further action or surrender of Common
Share certificates being required by the Shareholders.
Shortly following the dissolution of the
Corporation, registered Shareholders will receive a letter from the
transfer agent of the Corporation requesting certain information
necessary to complete the tax forms that such holders will require
for Canadian federal and, where applicable, provincial income tax
reporting purposes as a consequence of the dissolution of the
Corporation.
Forward Looking Statements
General information regarding the Corporation
set forth in this document, including management's assessment of
the Corporation's future plans as regards the liquidation and
dissolution of the Corporation, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties,
some of which are beyond the Corporation's and management's
control, including, but not limited to, the ability of the
Corporation to proceed on a timely basis with the settlement of its
obligations and liabilities. The Corporation's actual results,
performance or achievement could differ materially from those
expressed in or implied by these forward-looking statements and,
accordingly, no assurance can be given that any of the events
anticipated to occur or transpire from the forward-looking
statements will occur or transpire in the manner intended or at
all. All data presented herein should be read in conjunction with
the Corporation's regulatory filings with the appropriate
securities regulatory authorities and on SEDAR, which filings also
disclose further risks and uncertainties pertaining to the
Corporation. These filings are located under the Corporation's
profile at www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Wireless Matrix Corporation