Mr. Dusan Berka reports
MEGASTAR ANNOUNCES FURTHER CHANGE IN EX-DIVIDEND DATE
Megastar Development Corp. has provided clarification regarding its earlier announcement of the ex dividend date relating to the record date for the distribution of the 70 million common shares of Eloro Resources Ltd. (or approximately 23,333,333 common shares if Eloro's proposed consolidation is effected) under the terms of the company's shareholder-approved arrangement.
The distribution record date is Jan. 7, 2011. The ex dividend date, the date as of which a purchaser of Megastar common shares will no longer be entitled to receive any Eloro shares pursuant to the arrangement, is Jan. 5, 2011.
Pursuant to the TSX Venture Exchange dividend policy, Megastar shares will commence trading on an ex dividend basis at the opening of trading on the date which is two trading days prior to the distribution record date, such date being Jan. 5, 2011. The company previously announced an ex dividend date of Jan. 4, 2011; however, the new ex dividend of Jan. 5, 2010, date will allow additional time for the trading of Megastar shares prior to the Eloro distribution.
This news release should be read together with the more detailed information contained in the management information circular of the company dated Nov. 25, 2010, available on SEDAR.
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