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Caravan Confirms Second Installment of Initial Distribution To Shareholders
NYSE - LSE
Caravan Confirms Second Installment of Initial Distribution To Shareholders
CALGARY, AB / ACCESS Newswire / January 29, 2026 / Caravan Trailer Lodges of Alberta Ltd. (the "Corporation" or "Caravan") is pleased to announce that the second installment of the Initial Distribution to registered shareholders will be proceeding on January 29, 2026. The second installment is a payment in the amount of $2,725,019 and follows on the first installment in the amount of $2,339,240, which was previously distributed to all shareholders of record as of December 17, 2025. For most holders of Class A Shares (other than those involved in the previously reported litigation), this second installment equates to an aggregate dividend amount of $10.41015. When added to the December distribution of approximately $10.151353 per share, the total amount payable to most shareholders from these two installments is $20.561503 per share.
Distributions of Funds
The following is a detailed breakdown of the second installment of the Initial Distribution:
Distribution Amount: $2,725,019
Taxable Dividend #4 (General Dividend) - $1,772,900 ($6.57562 per Class A and Class B Share) - payable to all holders of Class A and Class B Shares
Return of Capital - $152,119 in aggregate, comprised of $147,119 on Class A Shares ($0.86736 per Class A Share) and $5,000 on Class B Shares ($0.05 per Class B Share)
Capital Dividend #1 (General Dividend) - $800,000 ($2.96717 per Class A and Class B Share) - payable to all holders of Class A and Class B Shares
In connection with this second installment of the Initial Distribution, cheques have been prepared and will be delivered by Alliance Trust Company (the Corporation's Distribution Agent for the Winding-Up) to all registered shareholders as of January 29, 2026 to their address of record (which will be the same address that cheques for the first installment of the Initial Distribution were sent to unless otherwise updated).
As noted in the Corporation's Information Circular dated October 29, 2025 and its press release dated December 17, 2025, the Corporation is retaining $2.5 million, $1.5 million of which is being retained for a period of two years as a form of self-insurance for directors (due to the inability of the Corporation to obtain directors' and officers' liability insurance), $750,000 of which will be held pending receipt of a Clearance Certificate from the CRA (which will only be sought after all tax related matters are resolved) and $250,000 of which is to be held as a reserve to cover unforeseen expenses. All of these funds are being held under an interest earning GIC.
As previously disclosed, the result of paying out the taxable dividends described in this release, together with those described in the Corporation's news release of December 17, 2025, is that the Corporation is expected to be able to claim approximately $1.5 million in refundable tax, which will be available for distribution to shareholders following receipt by the Corporation of its Notice of Assessment from the CRA in respect of its tax returns for its financial year ended October 31, 2026. It is therefore expected that the next distribution of funds to shareholders will occur in roughly the first calendar quarter of 2027.
Missing Shareholders
As previously disclosed, the Corporation has undertaken significant efforts to locate Missing Shareholders over recent years. Notwithstanding those efforts, there remain 47,820 Class A Shares registered in the names of 124 Missing Shareholders from whom nothing has been heard or received for several years despite the numerous attempts by the Corporation to locate them. The portion of each distribution that is payable to Missing Shareholders will be delivered to the Minister responsible for the Unclaimed Personal Property and Vested Property Act (Alberta) (the "UPPVPA") in accordance with that statute and Missing Shareholders (or their beneficiaries) will be entitled to establish their claim for such funds through the procedures set out thereunder and to register a claim via https://missingmoney.com/. The UPPVPA further requires that any funds attributable to Missing Shareholders at the end of the prescribed period are to be forfeited to the Minister responsible for the UPPVPA.
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Calum Stewart
Chairman, President and Director
[email protected]
Legal Inquiries can also be directed to Caravan's independent counsel, Tingle Merrett LLP, attention: Paul Bolger (ph: (403)571-8006) (re corporate matters).
SOURCE: Caravan Trailer Lodges of Alberta Ltd.
View the original press release on ACCESS Newswire
D.Cameron--SMC
