Guardian Capital Group Limited

Guardian Capital Group Limited

May 19, 2006 11:47 ET

Guardian Capital Group Limited Announces Approval of 2-For-1 Stock Split

TORONTO, ONTARIO--(CCNMatthews - May 19, 2006) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) announces that it has received all the necessary shareholder and regulatory approvals and will be completing the stock split effective on May 31, 2006, pursuant to which each issued Common share of Guardian will be subdivided into two Common shares and each issued non-voting Class A share of Guardian will be subdivided into two non-voting Class A shares. It is expected that the greater number of outstanding Common shares and non-voting Class A shares resulting from the stock split will promote increased interest in Guardian's shares along with broader ownership, both of which should prove beneficial to shareholders. The stock split was approved at a special meeting of the shareholders of Guardian held on May 18, 2006.

Each registered holder of Guardian shares of record on May 31, 2006 will receive one (1) additional new Common share for each Common share held, and one (1) additional new non-voting Class A share for each non-voting Class A share held. No action is required by shareholders.

Guardian's name and trading symbol will not change as a result of the stock split.

Guardian currently has 2,797,499 Common shares and 16,918,363 non-voting Class A shares issued and outstanding and will have 5,594,998 Common shares and 33,836,726 non-voting Class A shares issued and outstanding upon completion of the stock split.

Guardian Capital Group Limited is a diversified financial services company founded in 1962. Guardian provides institutional and high net worth investment management services to clients; provides financial services to international investors and provides services to its financial advisors in its national mutual fund dealer, securities dealer and insurance distribution network. Its Common shares and non-voting Class A shares are listed on the Toronto Stock Exchange under the symbols "GCG" and "GCG.A".

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Guardian Capital Group Limited
    Sam Greiss
    Senior Vice-President
    (416) 947-3743
    Guardian Capital Group Limited
    C. Verner Christensen
    Vice-President, Finance & Secretary
    (416) 947-4093