Dollarama announces election of directors and shareholder approval of three-for-one share split Français
MONTREAL, June 7, 2018 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") announced that the nominees listed in its management proxy circular dated April 13, 2018 (the "Circular") were elected as directors of Dollarama at the annual and special meeting of shareholders held earlier today in Montreal (the "Meeting"). The detailed results of the vote for the election of directors are set out below.
In addition, the shareholders approved a three-for-one share split of the Corporation's outstanding common shares (the "Share Split"), which was previously approved by the Corporation's Board of Directors on March 28, 2018.
Election of Directors
On a vote by ballot, each of the following nominees proposed by management was elected as a director of Dollarama:
| Nominee |
Votes For |
Votes Withheld |
||
| # |
% |
# |
% |
|
| Joshua Bekenstein |
78,246,588 |
94.87 |
4,234,157 |
5.13 |
| Gregory David |
81,076,108 |
98.30 |
1,404,637 |
1.70 |
| Elisa D. Garcia C. |
82,229,252 |
99.70 |
251,493 |
0.30 |
| Stephen Gunn |
79,612,780 |
96.52 |
2,867,965 |
3.48 |
| Kristin Mugford |
82,423,161 |
99.93 |
57,584 |
0.07 |
| Nicholas Nomicos |
80,759,560 |
97.91 |
1,721,185 |
2.09 |
| Neil Rossy |
81,774,533 |
99.14 |
706,212 |
0.86 |
| Richard Roy |
82,364,337 |
99.86 |
116,408 |
0.14 |
| Huw Thomas |
76,787,868 |
93.10 |
5,692,877 |
6.90 |
Approval of Three-for-One Share Split
At the Meeting, Dollarama's shareholders approved the Share Split. Consequently, shareholders of record as at the close of business on June 14, 2018 (the "Record Date") will receive, on June 19, 2018 (the "Payment Date"), two additional common shares for each common share held. As at the close of markets on June 6, 2018, Dollarama had 109,242,359 common shares issued and outstanding. Adjusting for the Share Split, as of June 6, 2018, there would have been 327,727,077 common shares issued and outstanding.
In accordance with the applicable rules of the Toronto Stock Exchange (the "TSX"), the Corporation's common shares will trade on a due bill basis from June 13, 2018 (being one trading day prior to the Record Date) to the Payment Date (i.e. June 19, 2018), inclusively. A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as the Share Split. In this instance, the entitlement is to the additional common shares issuable as a result of the Share Split. Any trades that are executed on the TSX during the due bill period will be flagged to ensure purchasers receive the entitlement to the additional common shares issuable as a result of the Share Split. Ex-distribution trading in the common shares on a split-adjusted basis will commence on June 20, 2018, as of which date purchases of common shares will no longer have the attaching entitlement to the additional common shares. The due bill redemption date will be June 22, 2018.
Shareholders do not need to take any action. Computershare Investor Services Inc., the Corporation's transfer agent, will send to all registered shareholders, on the Payment Date, a notice under the direct registration system indicating the number of additional common shares that they received as a result of the Share Split. These additional common shares will be held in book-entry form and registered electronically in the transfer agent's recordkeeping system, unless a physical share certificate is requested by the registered shareholder. Currently outstanding share certificates representing common shares of the Corporation will continue to be effective. They should be retained by registered shareholders and should not be forwarded to the Corporation or its transfer agent. Non-registered shareholders will have their brokerage accounts automatically updated to reflect the Share Split.
The Share Split is not expected to result in taxable income or in any gain or loss to shareholders for Canadian federal income tax purposes. Shareholders are advised to consult with their own tax advisors for further information. The Share Split will not dilute shareholders' equity. All share and per share data for future periods will reflect the Share Split. The Corporation's equity-based compensation plan as well as the Corporation's normal course issuer bid will be adjusted to reflect the Share Split.
Further details of the Share Split are contained in the Circular, which was filed on SEDAR (www.sedar.com) under the Corporation's profile on April 27, 2018 and which is available on the Corporation's website (www.dollarama.com).
Forward-Looking Statements
This press release may contain forward-looking statements. Forward-looking statements are based on information currently available to us and on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments as well as other factors that we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause actual results, level of activity, performance, achievements, future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, but not limited to, the factors discussed in the "Risks and Uncertainties" section of the Corporation's management's discussion and analysis (MD&A) for the fiscal year ended January 28, 2018 and in its continuous disclosure filings (available on SEDAR at www.sedar.com).
These factors are not intended to represent a complete list of the factors that could affect us; however, they should be considered carefully. The purpose of the forward-looking statements is to provide the reader with a description of management's expectations regarding the Corporation's financial performance and may not be appropriate for other purposes; readers should not place undue reliance on forward-looking statements made herein. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as at June 7, 2018 and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
About Dollarama
Dollarama is a recognized Canadian value retailer offering a broad assortment of consumer products, general merchandise and seasonal items. Our 1,170 locations across Canada provide customers with compelling value in convenient locations, including metropolitan areas, mid-sized cities and small towns. Our quality merchandise is sold in individual or multiple units at select, fixed price points up to $4.00.
SOURCE Dollarama Inc.
Investors, Michael Ross, FCPA, FCA, Chief Financial Officer, (514) 737-1006 x1237, [email protected]; Media, Lyla Radmanovich, (514) 845-8763, [email protected]
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