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TORONTO, June 23, 2021 (GLOBE NEWSWIRE) -- Trisura Group Ltd. (“Trisura”, or the “Company”) (TSX:TSU), a leading international specialty insurance company, announced today that its Board of Directors approved a four-for-one split of Trisura’s outstanding common shares (the “shares”). The share split will be implemented by way of a subdivision whereby shareholders receive an additional three shares for each share held. The Company’s shareholders approved the share split at the annual and special meeting of shareholders held on May 26, 2021.
On July 9, 2021, the additional shares required to give effect to the share split will be issued to holders of record at the close of business on June 30, 2021. The share split will not change the rights of holders of shares and will not change a shareholder’s proportionate ownership in Trisura.
Trisura’s shares will begin trading with “due bills” on the Toronto Stock Exchange (“TSX”) at the opening of business on Monday, June 29, 2021 (one trading day before the record date) until Friday July 9, 2021 (the payment date), inclusively. During such period, anyone who purchases shares on the TSX will receive the entitlement to be issued additional shares pursuant to the share split. The shares will commence trading on an “ex-dividend” (post-split) basis on the TSX at the opening of business on Monday, July 12, 2021.
Shareholders do not need to take any action. Currently outstanding share certificates representing the shares will continue to be effective. They should be retained by shareholders and should not be forwarded to Trisura or AST Trust Company (Canada) (“AST”). Trisura will use the direct registration system (“DRS”) to electronically register the shares issued pursuant to the share split, rather than issuing physical share certificates. On or about July 9, 2021, AST will mail DRS advice statements to registered shareholders indicating the number of additional shares that they are receiving as a result of the share split. Non-registered (beneficial) shareholders who hold their shares in an account with their investment dealer or other intermediary will have their accounts automatically updated to reflect the share split in accordance with the applicable brokerage account providers’ usual procedures.
About Trisura Group Ltd.
Trisura Group Ltd. is an international specialty insurance provider operating in the surety, risk solutions, corporate insurance, fronting and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company in Canada, Trisura Specialty Insurance Company in the US 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 further information, please contact:
Name: Bryan Sinclair
Tel: 416 607 2135
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. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the Company and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as “expects,” “likely,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “forecasts” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could”.
Although we believe that our anticipated future results, performance or achievements expressed or implied by the 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 because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of our Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: developments related to COVID-19, including the impact of COVID-19 on the economy and global financial markets; the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the behaviour of financial markets, including fluctuations in interest and foreign exchange rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the ability to appropriately manage human capital; the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; governmental investigations; litigation; changes in tax laws; changes in capital requirements; changes in reinsurance arrangements; ability to collect amounts owed; catastrophic events, such as earthquakes, hurricanes or pandemics; the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; and other risks and factors detailed from time to time in our documents filed with securities regulators in Canada.
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Trisura Group Ltd. 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.