Look Communications Announces Return of Capital to Shareholders
February 24 2012 - 7:00AM
PR Newswire (Canada)
TORONTO, Feb. 24, 2012 /CNW/ - Look Communications Inc. ("Look" or
the "Company") (NEX: LOK.H; LOK.K) today announced that it will
distribute an aggregate amount of $6,985,076.20 to the holders of
its multiple voting shares and subordinate voting shares, on a pro
rata basis, as a return of capital. Based on the number of
multiple voting shares and subordinate voting shares outstanding on
the date of this news release, shareholders will receive $0.05 for
each multiple voting share and subordinate voting share held. The
record date for determining holders of multiple voting shares and
subordinate voting shares who are entitled to receive the
distribution has been fixed as March 6, 2012. The Company
expects that payment of the distribution will be made to registered
holders of multiple voting shares and subordinate voting shares on
or about March 13, 2011. Forward-Looking Statements Certain
statements contained in this news release constitute
forward-looking information within the meaning of applicable
Canadian securities laws. The words "may", "attempt", "expect",
"will" and similar expressions are intended to identify
forward-looking information. Such information reflects Look's
current views with respect to future events and are subject to
certain risks, uncertainties and assumptions. Many factors could
cause actual results that may be expressed or implied by such
forward-looking statements to vary from those described herein
should one or more of these risks or uncertainties materialize,
including, among others, Look's ability to pay the return of
capital in a timely manner or at all and the tax consequences to
any particular shareholder of the return of capital. Except as
required by law, Look does not assume any obligation to update or
revise the forward looking statements contained in this news
release to reflect actual events or new circumstances. Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. Look Communications Inc. CONTACT: Grant McCutcheon,
Director, Look at (416) 613-8222
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