VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/16/13 -- CHR Investment Corporation (the "Company") announced that, as required by its Articles, the Company has provided notice to the holders of its Class A Retractable Voting Preferred shares (the "Class A Preferred Shares") that, at the option of the holders of the Class A Preferred Shares, commencing on August 31, 2013 the Company will redeem such shares, in whole or in part, at a price of $0.056401 per share, together with an amount equal to all accrued and unpaid dividends thereon as of August 31, 2013, being the sum of $0.006768 per share, for a total price of $0.063169 for each Class A Preferred Share. Upon the redemption of any Class A Preferred Shares, such shares will be cancelled and restored to the status of authorized but unissued shares in the capital of the Company.
The full amount of any dividend paid, or deemed to be paid, by the Company on or after August 31, 2013, when such dividend arises as a consequence of the redemption of any Class A Preferred Shares, is designated by the Company to be an "eligible dividend" for the purposes of the enhanced dividend tax credit pursuant to subsection 89(14) of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to an "eligible dividend" paid to a Canadian resident shareholder.
Please consult with your own tax advisor for advice with respect to the income tax consequences to you from the Company designating its dividends as "eligible dividends".
On behalf of the Board of Directors
Robert Friesen, President
CHR Investment Corporation
Suite 404 - 999 Canada Place
Most Popular Stories
- Paniagua Wins Grand Prize in Young Artists Program
- Yaris Adds French Flair for US Market
- IBM to Pay Big to Unload Chip Division
- Cable TV Not Going Away, Says Cable TV
- Sub Hunt Brings Cold War Chill Back to Baltic
- German Intelligence Blames Ukraine Rebels for MH17
- Cowboys Turn Back Clock to Glory Days
- Canadian Pacific Ends CSX Talks
- Kerry Cites Moral Need in Weapons Air Drop
- Turkey to Help Kurds Reach Fight in Kobani