Generex Biotechnology Confirms Record Date for 1:1
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Posted On: 09/03/2019 2:13:54 PM
Generex Biotechnology Confirms Record Date for 1:1 Dividend
GlobeNewswire•September 3, 2019
Record date of August 30, 2019 confirmed
Shareholders must hold shares through October 30, 2019 to receive dividend
Dividend Waived by insiders, note holders, acquisitions, and pool shares
Pool shares being retired on October 30, 2019
MIRAMAR, Fla., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (GNBT) today confirmed that the record date for the 1:1 (100%) stock dividend was recorded on August 30, 2019, and the dividend will be paid on October 29th to all shareholders who hold their shares through the ex-date of October 30, 2019. Anyone who sells their shares before the market close on October 30th will lose the dividend, which will be transferred to the buyer of your shares, just as anyone buying shares from now through October 30th will receive the 1:1 (100%) dividend from the seller of the shares.
Management and company insiders, note holders, acquisition partners, and the pool shares controlled by Generex President & CEO Joe Moscato on behalf of the Pool owners have waived their rights to the dividend. Therefore, if any of these entities or persons sells their shares, they will receive a “Pay Due Bill” and personally owe the dividend shares to the buyer, which is their sole responsibility to pay; Generex will not pay the dividend for those who have waived the dividend.
Mr. Moscato stated, “It is official, and congratulations to all current shareholders and any new shareholders who purchase GNBT stock through October 30, 2019. This dividend and our Nasdaq up-listing, which is currently in review, highlight the end of our 3-phase plan put forth to shareholders in January 2017 to transform GNBT into an integrated life science and healthcare company with a focus on end to end solutions for physicians and patients who battle chronic, costly, and debilitating diseases like arthritis, diabetes, and cancer. Additionally, on the pay date, I will be retiring the nearly 21 million pool shares to significantly limit the dilution effect of the dividend on shareholders. These events are the catalysts in furthering our acquisition strategy, and we have a number of new announcements slated over the coming weeks that will further our mission! It is exciting times for Generex and our shareholders, and we look forward to continued growth and execution for our long-term plans.”
As previously announced, Mr. Moscato will present an overview and corporate update on Generex and the NuGenerex family of companies at the H.C. Wainright Annual Healthcare Investor Conference at 3:25 on Monday September 9, 2019 in the Holmes II Room at The Lotte New York Palace Hotel, New York, NY.
https://finance.yahoo.com/news/generex-biotec...29424.html
GlobeNewswire•September 3, 2019
Record date of August 30, 2019 confirmed
Shareholders must hold shares through October 30, 2019 to receive dividend
Dividend Waived by insiders, note holders, acquisitions, and pool shares
Pool shares being retired on October 30, 2019
MIRAMAR, Fla., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (GNBT) today confirmed that the record date for the 1:1 (100%) stock dividend was recorded on August 30, 2019, and the dividend will be paid on October 29th to all shareholders who hold their shares through the ex-date of October 30, 2019. Anyone who sells their shares before the market close on October 30th will lose the dividend, which will be transferred to the buyer of your shares, just as anyone buying shares from now through October 30th will receive the 1:1 (100%) dividend from the seller of the shares.
Management and company insiders, note holders, acquisition partners, and the pool shares controlled by Generex President & CEO Joe Moscato on behalf of the Pool owners have waived their rights to the dividend. Therefore, if any of these entities or persons sells their shares, they will receive a “Pay Due Bill” and personally owe the dividend shares to the buyer, which is their sole responsibility to pay; Generex will not pay the dividend for those who have waived the dividend.
Mr. Moscato stated, “It is official, and congratulations to all current shareholders and any new shareholders who purchase GNBT stock through October 30, 2019. This dividend and our Nasdaq up-listing, which is currently in review, highlight the end of our 3-phase plan put forth to shareholders in January 2017 to transform GNBT into an integrated life science and healthcare company with a focus on end to end solutions for physicians and patients who battle chronic, costly, and debilitating diseases like arthritis, diabetes, and cancer. Additionally, on the pay date, I will be retiring the nearly 21 million pool shares to significantly limit the dilution effect of the dividend on shareholders. These events are the catalysts in furthering our acquisition strategy, and we have a number of new announcements slated over the coming weeks that will further our mission! It is exciting times for Generex and our shareholders, and we look forward to continued growth and execution for our long-term plans.”
As previously announced, Mr. Moscato will present an overview and corporate update on Generex and the NuGenerex family of companies at the H.C. Wainright Annual Healthcare Investor Conference at 3:25 on Monday September 9, 2019 in the Holmes II Room at The Lotte New York Palace Hotel, New York, NY.
https://finance.yahoo.com/news/generex-biotec...29424.html
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.
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