CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Computer Modelling Group Ltd. ("CMG" or the "Company") (TSX:CMG) confirms, in connection with its announcement May 21, 2014 that its Board of Directors has approved a stock split of CMG's issued and outstanding common shares of the Company (the "Common Shares") by way of stock dividend on a two-for-one basis, that the Common Shares will be traded in accordance with the "due bill" procedures of the Toronto Stock Exchange.
The Common Shares will commence trading on a "due bill" basis at the opening on June 23, 2014 until July 2, 2014 inclusively. The Company's Common Shares will be posted for and commence trading on an "ex-dividend" basis with respect to the stock dividend on July 3, 2014 and the due bill redemption date will be July 7, 2014.
Each CMG shareholder will receive one additional Common Share for every Common Share held on June 25, 2014, the record date set for the stock split. It is expected that certificates representing the additional Common Shares resulting from the stock split will be mailed to CMG's registered shareholders on or about July 2, 2014. No action is required to be taken by the shareholders.
Computer Modelling Group Ltd. is a computer software technology and consulting company serving the oil and gas industry. CMG, recognized by oil and gas companies worldwide as a leading developer of reservoir modelling software, has sales and technical support services based in Calgary, Houston, London, Caracas, Dubai, Bogota and Kuala Lumpur. CMG is the leading supplier of advanced processes reservoir modelling software in the world with a blue chip client base of international oil companies and technology centers in over 50 countries. The Company's shares are listed on the Toronto Stock Exchange under the trading symbol "CMG."