TSX-V: JTC
The Special Dividend is payable on January 31, 2020 (the "Special Dividend Payment Date") to shareholders of record on the Special Dividend Record Date.
Shareholders do not need to take any further action.
The Company has decided to pay the Special Dividend at this time after considering a number of factors including:
- The directors feel that a portion of the Company's cash reserves should be returned to the Company's shareholders as these funds are not needed to execute the Company's business plans.
- The Company's directors believe the Company's share price is undervalued and it is hoped that the Special Dividend will help increase investor returns.
- Even after payment of the Special Dividend, the Company will have cash reserves of approximately
$1.7 million which will allow it to continue to pursue acquisitions. - The Company's electronic monitoring business will continue to operate which will provide cash flow for ongoing operations.
There are currently no plans for future dividends. The Board of Directors continues to review its long-term cash requirements in view of its investment strategies and its capital needs from time to time.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither the
SOURCE
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