PacWest Equities, Inc. ( PINKSHEETS : PWEI ) (the “Company”) is pleased to provide further details pertaining to the recently announced dividend (a/k/a forward split) to shareholders of its common stock.
The Company has set the record date for the dividend as at October 18, 2012. However, the dividend does not become effective until such time as approved by FINRA. In the meantime, the Company’s shares of common stock will continue to trade on a pre-dividend basis.
On the date that the dividend is declared effective by FINRA, each shareholder of record will be entitled to exchange their existing shares for three new shares. As the dividend shares are payable upon surrender, it is anticipated that registered brokerage firms will have the dividend transaction processed automatically in customer accounts shortly after FINRA declares the dividend effective. Shareholders holding physical certificates representing their shares are NOT required to submit their certificates for exchange to receive full credit for dividend shares. Physical certificate holders may contact the Company’s transfer agent, First American Stock Transfer Inc., to facilitate the exchange of their old certificates for post-dividend shares should they wish to do so.