July 26, 2012
/PRNewswire/ -- Green Energy Renewable Solutions, Inc. (OTCQB: EWRL) today provided clarification of important dates in regards to its recently announced one additional share for every outstanding share held stock dividend.
The Company set the record date of the stock dividend at
June 29, 2012
and is waiting for FINRA to provide the ex-dividend date and payment date, which can take several weeks.
The ex-dividend date is set the first business day after the stock dividend is paid, and is also after the record date. If shares are sold before the ex-date, shareholders are selling the right to the stock dividend.
"We want investors to be clear about how our stock dividend will be processed. If you sell your stock before the ex-dividend date, you are also selling away your right to the stock dividend. Your sales includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his broker for the additional shares," said
, CEO of Green Energy Renewable Solutions. "Thus it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record, but usually is the first day after the stock dividend is paid," added DuRant.
About Green Energy Renewable Solutions, Inc.
Green Energy Renewable Solutions is a developer and operator of municipal solid waste and construction and demolition waste processing and recycling facilities. The Company operates with long-term supply agreements to process waste materials into valuable recyclables and reduce waste volume going into landfills by up to 85%. Green Energy Renewable Solutions has developed a strategic plan to create sustainable renewable energy with waste-to-energy power plants and the production of waste derived fuels.