GeoMet Declares Preferred Dividend
Houston, Texas – September 4, 2014 - GeoMet, Inc. (OTCQB: GMET NASDAQ: GMETP) (the “Company”) announced today that its Board of Directors has declared a quarterly dividend to its preferred stockholders covering the period July 1, 2014 through September 30, 2014 to be paid through the issuance of .03125 preferred shares (“PIK Preferred Shares”) per outstanding share of preferred stock. The dividend has been calculated at an annual rate of 12.5%. Should the calculation of the dividend of PIK Preferred Shares to any preferred stockholder result in a fractional share, the portion of the dividend attributable to such fractional share will be paid in cash. The aggregate amount of cash paid for all fractional shares will be nominal. The dividend will be paid on September 30, 2014 to preferred stockholders of record on September 15, 2014. In the aggregate, it is estimated that approximately 199,400 preferred shares will be issued in connection with this dividend.
For more information please contact Tony Oviedo, Senior Vice President, Chief Financial Officer, Chief Accounting Officer and Controller, at (713) 287-2262 (firstname.lastname@example.org), or visit our website at www.geometinc.com.