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Torchlight special dividend date series#
The Orogrande Project has zero proved reserves and zero commercial. Stockholders of record on June 24, 2021, will be entitled to receive the dividend which will consist of one share of Series A Preferred Stock for each one share of common stock owned on that date (subject to adjustment for any reverse split of Torchlight's common stock after the record date but before the dividend is paid). Late Monday, the company stated the special dividend would be issued on a one-for-one basis to common stockholders as of the close of market trading on June 24. Torchlight Energy (TRCH), an oil and gas exploration company announced that it has declared a Special Dividend of Series A Preferred Stock to be issued on a one-for-one basis to Common Stockholders of Record as of the close of market trading on J(subject to adjustment for any reverse split of Torchlight’s common stock after the record date but before the dividend is paid). In these cases, the ex-dividend date will be deferred until one business day after the dividend is. If the dividend is 25 or more of the stock value, special rules apply to the determination of the ex-dividend date. Torchlight's special dividend is likely to have limited value though. Late Monday, the company stated the special dividend would be issued on a one-for-one basis to common stockholders as of the close of market trading on June 24. Torchlight and Metamaterial agreed to push back the transaction date to June 30. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) increased by over 40 pre-market. Oh yeah, and has the land been sold, and what’s the dividend? Do we really need to play a guessing game.Īrgh. Torchlight also said on Friday it paid a special dividend to its stockholders of record on June 24 and that it implemented a previously approved 1 for 2 reverse stock split. I guess that’s fine, it would just mean that the dividend for each PS is more.īut when is that preferred share going to be paid? Is it before or after the merger, and, oh yeah, when is the merger going to happen? Is it on the 18th like the docs say or is it on the same day as the date of record? I mean, once they switch the shares to MMAT, then how would they know if I owned TRCH or MMATF on the date of record if all the shares are MMAT?
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Now, the PR says that they might reduce the number of shares owned in a R/S, and if so, the total number of pref shares would decrease as well.
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I know I’m gonna be rich, that’s a given, but the way they are announcing things is really aggravating.ĭate of record: 6/24 Special Dividend: 1 Preferred share per TRCH share owned.