TORONTO, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Trisura Group Ltd. (“Trisura”) (TSX:TSU) today announced that the 1 for 10 consolidation of its common shares followed immediately by a 10 to 1 share split will become effective prior to market open on December 21, 2017 for common shares held as of close of business on December 20, 2017. Those who hold less than 10 common shares will be entitled to receive cash proceeds per Trisura common share based on the average trading price of the shares on the Toronto Stock Exchange during the 20 consecutive trading days ending on and including December 20, 2017 (the “cash proceeds”).
Trisura will deposit the aggregate cash proceeds with its transfer agent on or before December 29, 2017. Registered shareholders who hold less than 10 common shares and who have submitted their letter of transmittal along with a certificate evidencing their common shares will be paid by cheque. Non-registered shareholders who hold their common shares through an intermediary such as a bank, securities dealer or broker, will receive cash proceeds in accordance with the intermediary’s procedures for processing the share consolidation.
About Trisura Group
Trisura Group Ltd. is an international specialty insurance provider operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company in Canada, Trisura Specialty Insurance Company in the USA and Trisura International Insurance Ltd. in Barbados. Trisura Group is listed on the Toronto Stock Exchange under the symbol "TSU".
Further information is available at http://www.trisura.com/group. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Details regarding the operations of Trisura Group are also set forth in regulatory filings. A copy of the filings may be obtained on Trisura Group’s SEDAR profile at www.sedar.com.
For more information, please contact:
| Name: David Clare, Chief Investment Officer Tel: 647-503-6516 Email: dclare@pvii.ca |
Cautionary Statement Regarding Forward-Looking Statements and Information
Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The word “will” and derivations thereof and other expressions that are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements.
Forward-looking statements in this news release include statements with respect to the completion of the share consolidation and share split of Trisura’s common shares. Although Trisura believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Trisura to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Except as required by law, Trisura undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.