ERF Wireless, a leading provider of enterprise-class wireless broadband products and services, today provides investors with an update regarding its previously announced decision to issue a dividend to shareholders of up to 5% of the existing common stock in Energy Broadband, the company's wholly owned oil and gas private subsidiary.
For each 200 shares of ERF Wireless common stock, or preferred stock convertible into 200 common shares, that a shareholder owns as of September 30, 2011, the shareholder will receive one unit of Energy Broadband securities consisting of 100 Energy Broadband common shares, one warrant to purchase 100 shares at a fixed price of $4.00 per share and one warrant to purchase an additional 100 shares at a fixed price of $6.00 per share.
ERF Wireless shareholders that hold shares in a brokerage account and are non-objecting beneficial owners will not have to take any action to receive the dividend. They will receive their units based on the number of full 200-share increments of ERF Wireless they hold as of the record date. The units will be sent to the address on the account, unless the company is notified in writing otherwise. Those who hold shares in certificate form will receive units based on the transfer agent's records.
According to the release, it is expected that most stockholders will receive their units within 90 days of the record date, unless the company is unable to make contact at the address recorded. Shareholders who do not receive units within 120 days after the record date and are qualified to receive units should contact the company immediately.
More information on Energy Broadband can be found at www.energybroadband.com
More information on ERF Wireless can be found at www.erfwireless.com
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