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Le Château announces approval of 4 for 1 stock split
28 Jun '07
2 min read
Le Château Inc announced that at its annual shareholders meeting held earlier, the shareholders approved the split of the Class A subordinate voting shares and Class B voting shares on a four-for-one basis.
The record date for the split will be July 18, 2007 and, despite the statement in the management information circular to the effect that shareholders will have to return their share certificates for replacement certificates, additional shares will be issued to give effect to the split. In accordance with the rules of the Toronto Stock Exchange, the Class A subordinate voting shares and Class B voting shares will begin to trade on an "as split" basis at the opening of business on July 16, 2007.
In her comments to shareholders at the annual meeting, Le Château Vice-Chairman and Chief Executive Officer, Jane Silverstone Segal stated that 2007 is off to a strong start. "All our divisions are performing well. For the first 8 weeks of the second quarter, total retail sales have increased 18.2% and same store sales have increased 13.1% over last year."
Le Château is a leading Canadian brand in specialty retailing offering a broad array of contemporary fashion apparel, accessories and footwear for style-conscious women and men. The Le Château brand is synonymous with ageless fashion at accessible prices and is sold exclusively through the Company's 204 retail locations, of which 199 are located in Canada and 5 in the New York City area. The Company's outlets are primarily found in major urban shopping malls, complemented with high pedestrian-traffic, street-front locations.
The record date for the split will be July 18, 2007 and, despite the statement in the management information circular to the effect that shareholders will have to return their share certificates for replacement certificates, additional shares will be issued to give effect to the split. In accordance with the rules of the Toronto Stock Exchange, the Class A subordinate voting shares and Class B voting shares will begin to trade on an "as split" basis at the opening of business on July 16, 2007.
In her comments to shareholders at the annual meeting, Le Château Vice-Chairman and Chief Executive Officer, Jane Silverstone Segal stated that 2007 is off to a strong start. "All our divisions are performing well. For the first 8 weeks of the second quarter, total retail sales have increased 18.2% and same store sales have increased 13.1% over last year."
Le Château is a leading Canadian brand in specialty retailing offering a broad array of contemporary fashion apparel, accessories and footwear for style-conscious women and men. The Le Château brand is synonymous with ageless fashion at accessible prices and is sold exclusively through the Company's 204 retail locations, of which 199 are located in Canada and 5 in the New York City area. The Company's outlets are primarily found in major urban shopping malls, complemented with high pedestrian-traffic, street-front locations.
Le Château Inc
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