ZEPHYR
COVE, Nev., April 3,
2023 /PRNewswire/ -- On March 30, 2023, VirnetX Holding Corporation
(NYSE: VHC) ("VirnetX"), an Internet security software and
technology company with patented technology for secure
communications, announced that its Board of Directors has declared
a special cash dividend of $1.00 per
common share (the "Special Dividend"). The Special Dividend will be
paid on or about April 17, 2023 to
shareholders of record on April 10,
2023.
The New York Stock Exchange ("NYSE") has determined that
VirnetX's shares will trade with "due-bills" representing an
assignment of the right to receive the Special Dividend up through
and inclusive of the payment date of April
17, 2023. The ex-dividend date will be April 18, 2023, the first business day following
the payment date. Stockholders who sell their shares on or before
the payment date will not be entitled to receive the Special
Dividend. Due-bills obligate a seller of shares to deliver the
dividend payable on such shares to the buyer. The due-bill
obligations are settled customarily between the brokers
representing the buyers and sellers of the shares. VirnetX has no
obligation for either the amount of the due-bill or the processing
of the due-bill. Buyers and sellers of VirnetX's shares should
consult their broker before trading to be sure they understand the
effect of the NYSE's due-bill procedures.
The tax treatment of holding common stock to any particular
stockholder will depend on the stockholder's particular tax
circumstances. VirnetX stockholders are urged to consult their tax
advisor regarding the U.S. federal, state, local and
foreign income and other tax consequences to them, in light of
their particular investment or tax circumstances, of the receipt of
the special dividend.
About VirnetX
VirnetX Holding Corporation is an Internet security software and
technology company with patented technology for secure
communications including 4G LTE and 5G security. VirnetX's software
and technology solutions, including its Secure Domain Name Registry
and Technology, VirnetX One™, VirnetX War Room™, VirnetX Matrix™,
and Gabriel Connection Technology™, are designed to facilitate
secure communications and to create a secure environment for
real-time communication applications such as cloud computing,
instant messaging, VoIP, smart phones, e-Readers and video
conferencing. VirnetX's patent portfolio includes over 200 U.S. and
foreign granted patents, validations and pending applications. For
more information, please visit: http://www.virnetx.com/.
Special Note Regarding Forward-Looking Statements
This press release should be read in conjunction with our Annual
Report on Form 10-K (the "Form 10-K"), filed with the Securities
and Exchange Commission on March 31,
2023. Statements herein may constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended (the "Securities Act"), and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange
Act").
These forward-looking statements are based upon our current
expectations, estimates, assumptions, and beliefs concerning future
events and conditions and may discuss, among other things,
expectations about products and product performance, expectations
about future cash distributions or dividends and the impact of
potential and ongoing litigation. Any statement that is not
historical in nature is a forward- looking statement and may be
identified by the use of words and phrases such as "anticipates,"
"believes," "estimates," "expects," "intends," "plans," "predicts,"
"projects," "will be," "will continue," "will likely result in,"
and similar expressions. Readers are cautioned not to place undue
reliance on forward-looking statements. Forward-looking statements
are necessarily subject to risks, uncertainties, and other factors,
many of which are outside our control, and could cause actual
results to differ materially from such statements and from our
historical results and experience. These risks, uncertainties and
other factors include, but are not limited to risks detailed in our
filings with the Securities and Exchange Commission (the "SEC"),
including the Form 10-K. Readers are cautioned that it is not
possible to predict or identify all the risks, uncertainties and
other factors that may affect future results and that the risks
described herein should not be considered a complete list. Any
forward-looking statement speaks only as of the date on which such
statement is made.
EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE
OR REVISE ANY FORWARD-LOOKING STATEMENT AS A RESULT OF NEW
INFORMATION, FUTURE EVENTS OR OTHERWISE.
Contact:
Investor Relations
1-415-505-0456
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SOURCE VirnetX Holding Corporation