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Sears Canada subjected to 'Due Bill' trading requirements
20
Nov '13
With reference to the Sears Canada announcement earlier of the declaration of an extraordinary cash dividend of $5.00 per share to be paid on December 6, 2013 to shareholders of record as at the close of business on December 2, 2013 (the "Record Date"), the Extraordinary Dividend will be subject to the "Due Bill" trading requirements mandated by the Toronto Stock Exchange.

Because the amount of the Extraordinary Dividend represents a distribution of greater than 25% of the stock price of the Company on the declaration date, the Toronto Stock Exchange has required that the common shares shall trade on a "Due Bill" basis from November 28, 2013 until the close of trading on the Payment Date.

This means that sellers of common shares in trades settled after the Record Date and entered into on or before the Payment Date shall also sell their entitlement to the Extraordinary Dividend to the respective purchasers of such common shares.

The common shares will commence trading on an ex-distribution basis (i.e. without an attached "Due Bill" entitlement to the Extraordinary Dividend) from the opening of trading on December 9, 2013 (i.e. the next trading day after the Payment Date).

Sears Canada is a multi-channel retailer with a network that includes 181 corporate stores, 241 hometown dealer stores, over 1,400 catalogue merchandise pick-up locations.

Sears Canada

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