Jannock Properties Limited Announces Completion of Final Distribution and Voluntary Dissolution
28 Januar 2011 - 3:00PM
Marketwired
Jannock Properties Limited ("JPL") (TSX VENTURE: JPL.UN) has made
the previously announced final distribution of CAD $0.056 per unit
(each unit being comprised of one Class B common share and 65 Class
A special shares) to shareholders of record on January 14, 2011. In
accordance with the Articles of JPL, the distribution was paid on
account of the Class A special shares and no amount of the
distribution was allocated to the Class B common shares.
JPL was then voluntary dissolved in accordance with the
Certificate of Dissolution dated January 28, 2011 issued under the
Ontario Business Corporations Act. The units of JPL will be
permanently de-listed from the TSX Venture Exchange.
This distribution should be treated as a return of capital and
shareholders should not realize any taxable dividends (as defined
in the Income Tax Act (Canada)) in respect of the distribution.
Shareholders should however consult their own tax advisors about
the specific tax consequences of this distribution and the
dissolution of the Corporation having regard to their own
particular circumstances.
Corporate Items
The mandate for JPL was to dispose of its assets in a manner
that maximizes value and distributes the net proceeds realized from
those assets to shareholders in a timely fashion.
JPL's units were listed on the TSX Venture Exchange (trading
symbol: JPL.UN).
This news release may contain "forward-looking" statements
within the meaning of applicable securities legislation which
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
JPL to be materially different from any future results, events,
expectations, performance or achievements expressed or implied by
such forward-looking statements. Forward-looking statements
typically contain such words or phrases such as "may", "outlook",
"objective", "intend", "estimate", "anticipate", "should", "could",
"would", "will", "expect", "believe", "plan" and other similar
terminology suggesting future outcomes or events. These statements
reflect current expectations regarding future events and are based
on information currently available to the management of JPL.
Forward-looking statements involve numerous assumptions, and
significant and inherent risks and uncertainties, should not be
read as guarantees of future results and will not necessarily be
accurate indications of whether or not such results will be
achieved. You should not unduly rely on forward-looking statements
as a number of factors, many of which are beyond the control of
JPL, could cause actual results to differ materially from the
results discussed in the forward-looking statements. Although the
forward-looking statements contained in this release are based upon
what management of JPL believes are reasonable assumptions, JPL
cannot assure investors that actual results will be consistent with
these forward-looking statements. All forward-looking statements in
this news release are qualified by these cautionary statements.
These forward-looking statements and outlook are made as of the
date of this news release and, except as required by applicable
law, JPL assumes no obligation to update or revise them to reflect
new events or circumstances.
Neither 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.
Contacts: Jannock Properties Limited Brian Jamieson (905)
821-4464 bjamie@jannockproperties.com
Jannock Pptys Ltd (TSXV:JPL.UN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Jannock Pptys Ltd (TSXV:JPL.UN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024