TORONTO, Sept. 21, 2015 /CNW/ - Callidus Capital
Corporation (the "Company" or "Callidus") is pleased to announce
the implementation of a dividend reinvestment plan (the "Plan"),
which has received approval from the Toronto Stock Exchange
("TSX").
The Plan provides eligible holders of common shares of the
Company ("Common Shares") with a convenient means to purchase
additional Common Shares ("Plan Shares") by reinvesting their cash
dividends without payment of brokerage commissions or service
charges. The Plan Shares will be purchased from the open market
unless the Company elects to issue them from treasury. If purchased
on the open market, the price of such shares will be the average
price paid per Plan Share for all Plan Shares purchased during the
three (3) business days following the relevant dividend payment
date. If the company elects to issue Plan Shares from treasury,
such shares will be purchased under the Plan at a 5% discount of
the average closing price of the Common Shares on the TSX for the
five (5) consecutive trading days immediately prior to the
applicable dividend payment date.
Holders of Common Shares who are resident in Canada are eligible to participate in the
Plan. Eligible shareholders may elect to participate in the Plan
commencing with the dividends to be paid on October 20, 2015 to shareholders of record as of
September 30, 2015.
The full text of the Plan may be obtained on the Company's
website at www.calliduscapital.ca and on Computershare's website at
www.investorcentre.com. Eligible beneficial shareholders who
wish to participate in the Plan should contact their investment
advisor, bank or brokerage firm to enroll in the Plan. Eligible
registered shareholders may enroll online at Computershare's web
portal located at www.investorcentre.com.
Shareholders should carefully read the complete text of the Plan
before making any decisions regarding participation in the
Plan.
About Callidus Capital Corporation
Established in
2003, Callidus Capital Corporation is a Canadian company that
specializes in innovative and creative financing solutions for
companies that are unable to obtain adequate financing from
conventional lending institutions. Unlike conventional lending
institutions who demand a long list of covenants and make credit
decisions based on cash flow and projections, Callidus credit
facilities have few, if any, covenants and are based on the value
of the company's assets, its enterprise value and borrowing needs.
Callidus employs a proprietary system of monitoring collateral and
exercising control over the cash inflow and outflows of each
borrower, enabling Callidus to very effectively manage any risk of
loss.
SOURCE Callidus Capital Corporation