TORONTO, Feb. 11,
2025 /CNW/ - The Board of Directors of Economic
Investment Trust Limited ("the Company") (TSX: EVT) today announced
that the Company will seek shareholder and regulatory approval for
the implementation of a ten-for-one share split of the Company's
issued and outstanding Common Shares, to be effected through an
amendment to its articles of continuance. The share split will be
subject to the approval of the Company's shareholders at its annual
and special meeting scheduled to be held on April 30, 2025 (the "Meeting") and to the
requirements of the Toronto Stock Exchange ("TSX").
The Board of Directors believes that the share split will
increase investor interest in the Company by bringing the trading
price into a more accessible range for retail investors,
encouraging a wider distribution of the Common Shares and enhancing
liquidity.
If approved by shareholders and the TSX and implemented by the
Board of Directors, shareholders will be entitled to ten Common
Shares for each Common Share held at a date to be approved by the
Board of Directors following shareholder approval.
The dividends of $22.70 and
$4.57 per Common Share payable on
March 31, 2025 to shareholders of
record on March 14, 2025 will not be
affected by the proposed share split. If the required approvals are
received and the share split is implemented by the Board of
Directors, all subsequent dividends declared by the Board of
Directors are expected to reflect the proposed share split.
Details regarding the share split will be set out in the
management information circular for the Meeting, which will be
filed under the Company's profile on SEDAR+ at www.sedarplus.ca.
Shareholders are encouraged to read the management information
circular and other relevant materials when they become
available.
SOURCE Economic Investment Trust Limited
