Jefferies Board of Directors Declares the Distribution Date for Previously Announced Spin-Off Dividend of Vitesse Common Stock

Jefferies Financial Group Inc. (NYSE: JEF) (“Jefferies”) today announced that its Board of Directors has declared the distribution date for the previously announced pro rata dividend of the outstanding shares of common stock (“Vitesse Common Stock”) of Vitesse Energy, Inc. (“Vitesse”) held by Jefferies, to be distributed effective as of 11:59 p.m. ET on January 13, 2023, to the holders of record of the common shares of Jefferies (“Jefferies Common Shares”) as of 5:00 p.m. ET on December 27, 2022, the record date for the distribution. Although Jefferies has received a private letter ruling from the Internal Revenue Service, to the effect that the spin-off will qualify as a tax-free reorganization for U.S. federal income tax purposes (subject to various limitations, representations and conditions), the distribution remains subject to the satisfaction or waiver of certain other conditions (the “Conditions”), including, among others, the Registration Statement on Form 10 relating to the spin-off having been declared effective by the U.S. Securities and Exchange Commission (the “SEC”).... Read more

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