Kingold Jewelry changes payout schedule for special 8c cash dividend Kingold Jewelry announced an adjustment to the payout date of its previously announced special cash dividend of 8c per share of common stock. The dividend will now be payable no later than August 28 to stockholders of record as of June 30. The change is due to the company requiring additional time to receive provincial government approvals in order to disperse the appropriate funds to stockholders. The total amount of cash distributed in the dividend is expected to be approximately $5.3M.
Kingold Jewelry terminates At Market Issuance sales agreement Kingold Jewelry announced that it and MLV & Co. mutually agreed to immediately terminate the previously announced At Market Issuance Sales Agreement pursuant to which the company could have offered and sold up to $10M of shares of its common stock from time to time with MLV as sales agent. The company did not sell any shares of its common stock under the ATM Facility. The Chairman of Kingold intends to schedule a meeting of its board of directors to review corporate strategy with a view towards enhancing stockholder value, the company noted. The review process will be ongoing and is expected to define corporate goals that focus on increasing stockholder value, providing greater access to management, setting high standards of corporate governance, reviewing the role of professional advisors and providing investors with the appropriate level of information and transparency.