GRILLiT, operator of healthy, fast-casual restaurants offering American, Asian Fusion, and Latin American food styles, today told investors that it is postponing the record date for its previously announced common stock dividend. Instead of June 28, 2013, the record date for the stock dividend will be July 15, 2013.
All shareholders of GRILLiT owning common shares on the record date of July 15, 2013, will receive four shares of GRILLiT common stock for every share held by such shareholder. The dividended common shares will be "restricted" as defined in the Securities Act of 1933. Rule 144 allows for the public resale of restricted securities only if certain holding period and other conditions are satisfied.
Per FINRA regulations, the company is required to provide notice to and receive acceptance from FINRA prior to the actual distribution of the dividend. As long as FINRA does not cause any unforeseen delays, GRILLiT anticipates distributing the stock dividend within three to four weeks. The payment of the dividend will not require an increase in the total number of authorized shares of common stock nor is there a need for an exchange of certificates.
For more information, visit GRILLiTinc.com
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