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Badger Daylighting Ltd. Announces Three-For-One Share Split and January Cash Dividend

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2014-01-13 14:35:57 -

Share Split

Calgary, Alberta CANADA, January 13, 2014 /FSC/ - Badger Daylighting Ltd. (BAD - TSX), ("Badger") announces that its board of directors has approved the split of all of the issued and outstanding common shares of Badger on a basis of three (3) common shares for every one (1) existing common share held. As a result of the split, Badger's issued capital will triple from approximately 12.34 million to approximately 37.03 million common shares. Badger has determined to proceed with the share split in order to provide increased liquidity in its shares.

The record date for the share split will be the close of business on January 24, 2014. The payment date, being the date that additional common shares issuable

as a result of the share split will be issued, will be on January 27, 2014. Ex-distribution trading in the common shares on split-adjusted basis will commence on January 28, 2014.

The Toronto Stock Exchange has determined to implement due bill trading in connection with the share split. A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as a share split. In this instance, the entitlement is to the additional common shares of Badger issuable as a result of the share split. The common shares will trade on a due bill basis from January 22, 2014 to January 27, 2014 inclusive. Any trades that are executed during this period will be flagged to ensure purchasers receive the entitlement to the additional common shares issuable as a result of the share split. The due bill redemption date will be January 29, 2014.

For beneficial shareholders who hold their shares in an account with their investment dealer or other intermediary, their account will be automatically updated to reflect the share split.

Registered shareholders should retain their current Badger share certificates which will remain valid, and continue to represent the number of Badger shares indicated on those certificates. Share certificates representing additional common shares of Badger issuable as a result of the share split will be mailed to registered shareholders, at their address as shown on the register of Badger, after January 27, 2014. The combination of the current share certificates and the additional share certificates will represent each shareholder's total post-split shareholdings.

Cash Dividend

Badger also announces that its board of directors has declared a cash dividend for the month of January of $0.09 per share ($0.03 per share on split-adjusted basis), representing $1.08 per share ($0.36 per share on a split-adjusted basis) on an annualized basis. Payment will be made on or about February 17, 2014 to shareholders of record on January 31, 2014.

As the record date for the dividend for the month of January 2014 is subsequent to the record date for the share split, the dividend payable for the month of January 2014, and all other subsequent dividends, will reflect the three-for-one share split ($0.03 per share on split-adjusted basis).

Badger expects that the dividends will be "eligible dividends" for income tax purposes and thus qualify for the enhanced gross-up and tax credit regime for certain shareholders.

Badger is North America's largest provider of non-destructive excavating services. Badger traditionally works for contractors and facility owners in the utility and petroleum industries. Our key technology is the Badger Hydrovac, which is used primarily for safe digging in congested grounds and challenging conditions. The Badger Hydrovac uses a pressurized water stream to liquefy the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. Badger manufactures its truck-mounted hydrovac units.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

For more information regarding this Press Release, please contact:

Tor Wilson Greg Kelly, CA
President and CEO Vice President Finance and CFO
1000, 635 - 8th Avenue SW
Calgary, Alberta T2P 3M3
Phone (403) 264 - 8500
Fax (403) 228 - 9773

To view this press release as a PDF, please click on the following link:

Source: Badger Daylighting Ltd. (TSX - BAD)
Maximum News Dissemination by FSCwire.

Fred Gautreau
Phone: 14037173898

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