Urbana Corporation / Chicago Board Options Exchange
Toronto, Ontario – June 18, 2010 – Urbana Corporation (“Urbana”) (TSX: URB.A) is pleased to announce that on June 15, 2010, the Chicago Board Options Exchange (“CBOE”) began its first day of trading as a public entity on the NASDAQ Exchange.
Today is the CBOE’s actual day of demutualization, the issuance of its public shares and the dividend payout.
At the time of CBOE’s initial public offering (“IPO”), Urbana held 25 CBOE memberships. Each membership received a $100,000 cash dividend and 80,000 restricted shares, half of which will be locked up for six months and the remainder locked up for one year. Urbana also sold 240,000 shares (the equivalent of 3 members) into the IPO at the $29/share issue price.
Urbana views the CBOE’s IPO as a positive development for the exchange space.
This CBOE investment is within the context of Urbana’s current strategy of acquiring interests in businesses within the financial services sector. Urbana is an investment corporation listed on the Toronto Stock Exchange (TSX: URB.A). Urbana also has interests in numerous North American and international securities exchanges.
Elizabeth Naumovski, Investor Relations at 416-595-9106 for further information.
Forward Looking Statements
Certain statements in this press release constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Urbana to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There is no assurance that the membership purchase announced will be completed, or that if completed, such membership purchase will be a profitable investment for Urbana. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.