WesternOne Inc. Announces Cash Distribution for February 2013, Debenture Conversions and Chief Operating Officer adds President to his Title
VANCOUVER, Feb. 15, 2013 /PRNewswire/ – WesternOne Inc. (“WesternOne”) (TSX:
WEQ, WEQ.DB.B and WEQ.DB.C) today announced that its Board of Directors
has approved a cash dividend of $0.05 per share for the month of
February 2013 (equivalent to $0.60 per share on an annualized basis).
This dividend will be paid on March 15, 2013 to shareholders of record
at the close of business on February 28, 2013.
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.
In addition, WesternOne announced that during January 2013, 107,953
common shares were issued at $5.25 per share in connection with the
conversion of $564,000 principal amount of Unsecured Convertible
Subordinated Debentures (plus accrued interest), and 317,238 common
shares were issued at $7.50 per share in connection with the conversion
of $2,368,000 principal amount of Series 2 Unsecured Convertible
Subordinated Debentures. As at January 31, 2013, WesternOne had
22,059,657 common shares, $8,924,000 principal amount of Unsecured
Convertible Subordinated Debentures and $78,664,000 principal amount of
Series 2 Unsecured Convertible Subordinated Debentures outstanding.
Finally, WesternOne announced that Geoffrey Shorten, its Chief Operating
Officer, has also been appointed President to better reflect his
strategic and operational roles at WesternOne.
About WesternOne Inc.
WesternOne Inc. 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
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SOURCE WesternOne Inc.