Wood Composite Technologies Inc. announces return of capital distribution associated with a stated capital reduction

    




 NISKU, AB, Oct. 2, 2012 /CNW/ - Wood Composite Technologies Inc.  (the "Company") is pleased to announce that further to its  previously announced special resolution related to the reduction of  stated capital by the Company, the record and payments dates for the  resulting $0.0445 per common share  ("Common Share") special  distribution to shareholders (the "Special Distribution") have now been  set, subject to regulatory approval. 

 Shareholder approval was obtained at a meeting on August 7, 2012, with  overwhelming support from the shareholders present in person and by  proxy.  WCT's directors have set the record date for the $0.0445 per  common Special Distribution to shareholders as October 9, 2012 (the  "Record Date"), and the payment date as October 16, 2012 (the "Payment  Date"). 

 As the amount of the Special Distribution exceeds 25% of WCT's current  stock price, "due bill" trading will be imposed by the TSX Venture  Exchange .  This will result in the Common Shares trading on a  "due bill" basis from the opening of trading on October 4, 2012 to the  close of trading on October 16, 2012.  This means that sellers of the  Common Shares from October 4, 2012 to October 16, 2012 (inclusive) will  not be entitled to the Special Distribution and any Special  Distribution payments received in accounts will be withdrawn.  Holders  entitled to the Special Distribution would include buyers of the Common  Shares up to and including October 16, 2012. 

 The Common Shares will commence trading on an ex-distribution basis on  the TSX-V effective from the opening of trading on October 17, 2012. 

 In connection with the announcement of these actions, the Company has  also requested the permanent halt of trading of its shares on the TSX-V  to occur on or before the Record Date and the voluntary delisting of  its shares on the TSX-V on or about the ex-distribution date. 

 About Wood Composite 

 Wood Composite is listed on the TSX-V under the symbol "WCT" and  maintains certain patents and processes that are proprietary to the  Company which utilize recycled post industrial materials. 

 The TSX Venture Exchange does not accept responsibility for the adequacy  or accuracy of this release. 

Wood Composite Technologies Inc.


CONTACT:  John GreenwoodPresident and Chief Executive OfficerTelephone: [phone]Facsimile:  [phone]Websites: www.woodcomp.com. 


    

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