VANCOUVER, Feb. 15, 2013 /PRNewswire/ - WesternOne Inc. ("WesternOne") (TSX: WEQ, WEQ.DB.B and WEQ.DB.C) today announced that its Board of Directors has approved a cash dividend of $0.05 per share for the month of February 2013 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on March 15, 2013 to shareholders of record at the close of business on February 28, 2013.
The policy of WesternOne is to pay cash dividends on or about the 15th day of each month to shareholders of record on the last business day of the preceding month.
In addition, WesternOne announced that during January 2013, 107,953 common shares were issued at $5.25 per share in connection with the conversion of $564,000 principal amount of Unsecured Convertible Subordinated Debentures (plus accrued interest), and 317,238 common shares were issued at $7.50 per share in connection with the conversion of $2,368,000 principal amount of Series 2 Unsecured Convertible Subordinated Debentures. As at January 31, 2013, WesternOne had 22,059,657 common shares, $8,924,000 principal amount of Unsecured Convertible Subordinated Debentures and $78,664,000 principal amount of Series 2 Unsecured Convertible Subordinated Debentures outstanding.
Finally, WesternOne announced that Geoffrey Shorten, its Chief Operating Officer, has also been appointed President to better reflect his strategic and operational roles at WesternOne.About WesternOne Inc. WesternOne Inc. seeks to acquire and grow businesses in the construction and infrastructure services sector in order to generate stable and growing dividends to its shareholders and to achieve capital appreciation. Additional information about WesternOne Inc. is available at www.weq.ca or www.sedar.com. THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.