Stock Name: GBI
Amount: CAD 0.01
Announcement Date: 13/10/2011
Record Date: 21/10/2011
Dividend Detail:
Company: Global Railway Industries Ltd.
Stock Symbol: GBI
Listing: Toronto Stock Exchange
Outstanding Shares: 15.2 Million
Web Site: www.globalrailway.com
LACHINE, QC, Oct. 13, 2011 /CNW/ - Global Railway Industries Ltd. (GBI:TSX): Global Railway Industries Ltd., www.globalrailway.com, announced today that its board of directors has authorized the
commencement of the winding-up of Global and declared an initial
distribution to shareholders of $1.00 per common share, all in accordance with the resolution passed at the
special meeting of Global's shareholders held on August 30, 2011.
The initial distribution will be made as a return of capital to
shareholders of record at the close of business on October 25, 2011.
The distribution will be payable on November 2, 2011.
Global intends to distribute the remainder of its available cash to
shareholders in one or more instalments as its liabilities and
contingent obligations are settled. The amount and timing of these
distributions have yet to be determined; however, there have been no
material changes to the estimated amount of cash available for
distribution presented to shareholders in Global's Management
Information Circular dated July 25, 2011.
Shareholders of Global should consult with their tax advisors as to the
tax consequences of the distribution that will be made on November 2,
2011, as well as any subsequent distributions.
About Global Railway Industries: Global Railway Industries Ltd. is a public company whose shares are
listed for trading on the Toronto Stock Exchange (TSX) under the symbol
"GBI".
For further information:
| Company Contact: | | Company Contact: |
| Fausto Levy President & CEO Tel: 514-634-6224 ext. 136 E-mail:flevy@cadrail.ca | | Ross Corcoran Vice President & CFO Tel: 514-634-6224 ext. 136 E-mail:rcorcoran@cadrail.ca |
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