East West Petroleum (TSE:EW) has released an update.
East West Petroleum is progressing with its plan to return capital to shareholders, proposing a distribution of up to $3,000,000 in cash. The company has sent out information regarding a special shareholders’ meeting scheduled for August 16, 2024, where the distribution will be voted on. East West’s Board of Directors recommends that shareholders vote in favor of this cash return, with the anticipated effective distribution date being on or around August 23, 2024.
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