American DG Energy Announces Special Dividend of EuroSite Power Common Share for Every 10 ADGE Shares
American DG Energy Inc. (NYSE: ADGE), a leading On‑Site Utility offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, today announced that its board of directors declared a special dividend of one share of EuroSite Power Inc. (EuroSite Power) Common Stock for every ten shares of American DG Energy Common Stock.
EuroSite Power, a subsidiary of the Company, has 56,747,100 shares issued and outstanding and American DG Energy owns 45,000,000 of those shares. American DG Energy will issue a special dividend to its shareholders of an aggregate of 4,880,720 shares of EuroSite Power common stock that it owns. The special dividend is payable on August 15, 2013 to stockholders of record as of the close of business on July 25, 2013.
The EuroSite Power shares issued pursuant to the special dividend will not be restricted securities in the hands of shareholders who are not affiliates of American DG Energy or Eurosite Power. Affiliates may sell the securities only after a 6 month holding period pursuant to the provisions of the SEC's Rule 144.
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