Marquette National Corporation Announces Four-for-One Stock Split

Marquette National Corporation Announces Four-for-One Stock Split

PR Newswire

CHICAGO, April 28, 2017 /PRNewswire/ — Marquette National Corporation (OTCQX: MNAT) (the “Company”) today announced that its Board of Directors declared a four-for-one stock split of its common stock payable in the form of a stock dividend. The four-for-one stock split will be payable on May 26, 2017 to shareholders of record on May 12, 2017. The Company currently has 1,122,377 shares of common stock issued and outstanding. The last reported sales price for the common stock was $106.95, as reported on the OTCQX marketplace on April 26, 2017.  After the stock split, the number of shares of common stock issued and outstanding will increase to 4,489,508 shares, and the price per share will be adjusted accordingly. On a post-stock split basis, the Company’s quarterly cash dividend will be adjusted from $0.42 to $0.105 per share.

Paul M. McCarthy, Chairman and Chief Executive Officer of Marquette National Corporation stated, “The decision to declare a four-for-one stock split should help establish a market price for our stock that is, on a per share basis, more affordable and accessible to a wider range of investors and is intended to increase our overall shareholder base and the liquidity in our stock over time.”

Marquette National Corporation is a diversified bank holding company with total assets of approximately $1.596 billion.  The Company’s banking subsidiary, Marquette Bank, is a full-service, community bank that serves the financial needs of communities in Chicagoland, offering an extensive line of financial solutions, including retail banking, real estate lending, trust, investments, wealth management and business banking to consumers and commercial customers.  Marquette Bank has 21 branches located in Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Romeoville and Summit, Illinois.  For more information visit:  http://www.emarquettebank.com.

Special Note Concerning Forward-Looking Statements

This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company.  Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions.  A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. 
These factors include, among others, the following: (i) the strength of the local and national economy; (ii) the economic impact of any future terrorist threats and attacks, and the response of the United States to any such threats and attacks; (iii) changes in state and federal laws, regulations and governmental policies concerning the Company’s general business; (iv) changes in interest rates and prepayment rates of the Company’s assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected outcomes of existing or new litigation involving the Company; and (x) changes in accounting policies and practices.  These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.  Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

For more information:
Paul Eckroth
EVP & CFO
708-364-9011          
peckroth@emarquettebank.com  

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/marquette-national-corporation-announces-four-for-one-stock-split-300447719.html

SOURCE Marquette National Corporation

Reminder: Direxion to Execute Reverse and Forward Share Splits of Fifteen ETFs

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Reminder: Direxion to Execute Reverse and Forward Share Splits of Fifteen ETFs

PR Newswire

NEW YORK, April 27, 2017 /PRNewswire/ — Direxion will execute the previously announced reverse share splits for eight of its exchange-traded funds (“ETFs”), as well as forward share splits for another seven ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.

Eight Reverse Splits
Direxion will execute reverse splits of the Direxion Daily S&P 500® Bear 1X Shares, Direxion Daily Gold Miners Index Bull 3X Shares, Direxion Daily Junior Gold Miners Index Bull 3X Shares, Direxion Daily Junior Gold Miners Index Bear 3X Shares, Direxion Daily Semiconductor Bear 3X Shares, Direxion Daily Regional Banks Bear 3X Shares, Direxion Daily Russia Bear 3X Shares, and Direxion Daily S&P 500® Bear 3X Share. The splits are effective at the open of the market on May 1, 2017.

A summary of the eight ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective May 1, 2017):

Fund Name

Ticker

Current CUSIP

New CUSIP

Reverse Split Ratio

Approximate decrease in total number of outstanding shares

Direxion Daily S&P 500® Bear 1X Shares

SPDN

25490K216

25460E869

1 for 2

50%

Direxion Daily Gold Miners Index Bull 3X Shares

NUGT

25490K570

25460E844

1 for 4

75%

Direxion Daily Junior Gold Miners Index Bull 3X Shares

JNUG

25490K554

25460E851

1 for 4

75%

Direxion Daily Junior Gold Miners Index Bear 3X Shares

JDST

25490K141

25460E877

1 for 4

75%

Direxion Daily Semiconductor Bear 3X Shares

SOXS

25490K778

25460E836

1 for 5

80%

Direxion Daily Regional Banks Bear 3X Shares

WDRW

25459Y124

25460E802

1 for 5

80%

Direxion Daily Russia Bear 3X Shares

RUSS

25490K786

25460E828

1 for 5

80%

Direxion Daily S&P 500® Bear 3X Shares

SPXS

25459Y371

25460E885

1 for 5

80%

 

As a result of this reverse split, every two, four or five shares of a Fund will be exchanged for one share as indicated in the table above.  Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above.  In addition, the per share net asset value (“NAV”) and next day’s opening market price will be approximately two-, four- or five-times higher for the Funds.  Shares of the Funds will begin trading on the NYSE Arca, Inc. (the “NYSE Arca”) on a split-adjusted basis on May 1, 2017.

The next day’s opening market value of the Funds’ issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the reverse split.  The table below illustrates the effect of a hypothetical 1-for-2, 1-for-4 or 1-for-5 reverse split anticipated for the Funds, as applicable and described above:

1-for-2 Reverse Split


Period


# of Shares Owned


Hypothetical NAV


Total Market Value

Pre-Split

120

$10

$1,200

Post-Split

60

$20

$1,200

 

1-for-4 Reverse Split


Period


# of Shares Owned


Hypothetical NAV


Total Market Value

Pre-Split

120

$10

$1,200

Post-Split

30

$40

$1,200

 

1-for-5 Reverse Split


Period


# of Shares Owned


Hypothetical NAV


Total Market Value

Pre-Split

120

$10

$1,200

Post-Split

24

$50

$1,200

 

Seven Forward Splits

Additionally, Direxion will execute forward splits of the Direxion Daily S&P 500® Bull 3X Shares, Direxion Daily Latin America Bull 3X Shares, Direxion Daily Small Cap Bull 3X Shares, Direxion Daily Russia Bull 3X Shares, Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares, Direxion All Cap Insider Sentiment Shares, and Direxion NASDAQ-100 Equal Weighted Index Shares.

A summary of the seven ETFs undergoing forward splits is as follows:

Fund Name

Ticker

Forward Split Ratio

Approximate increase in total number of outstanding shares

Direxion Daily S&P 500® Bull 3X Shares

SPXL

4 for 1

300%

Direxion Daily Latin America Bull 3X Shares

LBJ

4 for 1

300%

Direxion Daily Small Cap Bull 3X Shares

TNA

2 for 1

100%

Direxion Daily Russia Bull 3X Shares

RUSL

2 for 1

100%

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares

GUSH

2 for 1

100%

Direxion All Cap Insider Sentiment Shares

KNOW

2 for 1

100%

Direxion NASDAQ-100 Equal Weighted Index Shares

QQQE

2 for 1

100%

 

As a result of these share splits, shareholders of each Fund will receive two or four shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Fund’s issued and outstanding shares will increase by the approximate percentage indicated above. 

All share splits will apply to shareholders of record as of the close of NYSE Arca, Inc. (the “NYSE Arca”) on April 27, 2017 (the “Record Date”), payable after the close of the NYSE Arca on the payable date, April 28, 2017.  Shares of the Funds will begin trading on the NYSE Arca on a split-adjusted basis on May 1, 2017 (the “Ex-Date”).  On the Ex-Date, the opening market value of each Fund’s issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the share split.  However, the per share net asset value (“NAV”) and opening market price on the Ex-Date will be approximately one-half or one-fourth for the Funds. The tables below illustrate the effect of a hypothetical 2-for-1 and 4-for-1 split on a shareholder’s investment.

2-for-1 Share Split


Period


# of Shares Owned


Hypothetical NAV


Total Market Value

Pre-Split

100

$20

$2,000

Post-Split

200

$10

$2,000

 

4-for-1 Share Split


Period


# of Shares Owned


Hypothetical NAV


Total Market Value

Pre-Split

100

$40

$4,000

Post-Split

400

$10

$4,000

 

Redemption of Fractional Shares and Tax Consequences for Each Reverse and Forward Split

As a result of the reverse or forward split, a shareholder of a Fund’s shares could potentially hold a fractional share. However, fractional shares cannot trade on the NYSE Arca. Thus, a Fund will redeem for cash a shareholder’s fractional shares at the Fund’s split-adjusted NAV as of the Record Date. Such redemption may have tax implications for those shareholders and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder’s fractional shares. Otherwise, the reverse or forward split will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.

“Odd Lot Unit”

Also as a result of the reverse or forward split, the Funds will have outstanding one aggregation of less than 50,000 shares to make a creation unit, or an “odd lot unit.” Thus, the Funds will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.


About Direxion:

Direxion builds bold products for investors who want more than the status quo. Our index-based products deliver directional options, magnified exposure, and long-term, rules-based strategies. Founded in 1997, the company has approximately $12.4 billion in assets under management as of March 31, 2017. Direxion’s diverse suite of products helps investors navigate today’s ever-changing markets. For more information, please visit www.direxioninvestments.com.

There is no guarantee that the Funds will achieve their objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to direxioninvestments.com, or call us at 866.476.7523.

The ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.

An investor should consider the investment objectives, risks, charges, and expenses of Direxion ETFs carefully before investing. The prospectus and summary prospectus contains this and other information about Direxion ETFs. Download a prospectus and summary prospectus at

direxioninvestments.com

. The prospectus and summary prospectus should be read carefully before investing.

Risks:

An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration risk that results from the Funds’ investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts, forward contracts, options and swaps are subject to market risks that may cause their price to fluctuate over time. The Funds do not attempt to, and should not be expected to, provide returns which are a multiple of the return of the Index for periods other than a single day. For other risks including correlation, compounding, market volatility and specific risks regarding each sector, please read the prospectus.

Distributor: Foreside Fund Services, LLC.

CONTACT:

James Doyle

JConnelly

973.850.7308


jdoyle@jconnelly.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/reminder-direxion-to-execute-reverse-and-forward-share-splits-of-fifteen-etfs-300447421.html

SOURCE Direxion

Waste Connections Announces A Proposed 3-For-2 Stock Split

Waste Connections Announces A Proposed 3-For-2 Stock Split

Canada NewsWire

TORONTO, April 26, 2017 /CNW/ – Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”) today announced that it proposes to split its common shares on a three-for-two basis. The proposed share split has been approved by the Company’s Board of Directors and requires the approval of shareholders at the Annual and Special Meeting of Shareholders of Waste Connections to be held on May 23, 2017. The share split is also subject to the requirements of the TSX and NYSE.  Following shareholder approval of the share split, it is expected that shareholders of record as of the close of business on June 7, 2017, will receive from the Company’s transfer agent on June 16, 2017 one additional common share for every two shares held.

“We believe the stock split, our fourth such split since our founding almost twenty years ago, demonstrates our continuing commitment to both broaden our shareholder base and enhance liquidity for investors,” said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer.

About Waste Connections
Waste Connections is an integrated solid waste services company that provides waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets in the United States and Canada. Through its R360 Environmental Solutions subsidiary, Waste Connections is also a leading provider of non-hazardous oilfield waste treatment, recovery and disposal services in several of the most active natural resource producing areas in the United States, including the Permian, Bakken and Eagle Ford Basins. Waste Connections serves more than six million residential, commercial, industrial, and exploration and production customers in 39 states in the U.S., and five provinces in Canada. Waste Connections also provides intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest.

For more information, visit the Waste Connections website at www.wasteconnections.com.  Copies of financial literature, including this release, are available on the Waste Connections website or through contacting us directly at either (905) 532-7510 or (832) 442-2200.  Investors can also obtain these materials and other documents filed with the U.S. Securities and Exchange Commission (SEC) and the securities commissions or similar regulatory authorities in Canada free of charge at the SEC’s website, www.sec.gov, and at the System for Electronic Document Analysis and Retrieval (SEDAR) maintained by the Canadian Securities Administrators at www.sedar.com.



Safe Harbor and Forward-Looking Statements



This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (PSLRA) and “forward-looking information” within the meaning of applicable Canadian securities laws. These forward-looking statements are neither historical facts nor assurances of future performance and reflect Waste Connections’ current beliefs and expectations regarding future events and operating performance. These forward-looking statements are often identified by the words “may,” “might,” “believes,” “thinks,” “expects,” “intends” or other words of similar meaning. All of the forward-looking statements included in this press release are made pursuant to the safe harbor provisions of the PSLRA and applicable Canadian securities laws. Forward-looking statements involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements about the timing and impact of the proposed share split. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, risk factors detailed from time to time in filings that have been made by the Company with the U.S. Securities and Exchange Commission and the securities commissions or similar regulatory authorities in Canada. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.  Waste Connections undertakes no obligation to update the forward-looking statements set forth in this press release, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws.

CONTACT:

Worthing Jackman / (832) 442-2266                                     

Mary Anne Whitney / (832) 442-2253

worthingj@wasteconnections.com                                         


maryannew@wasteconnections.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/waste-connections-announces-a-proposed-3-for-2-stock-split-300446555.html

SOURCE Waste Connections, Inc.

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