Organto Announces Consolidation of Common Shares - Seite 2
Beneficial shareholders who hold their pre-Consolidation Shares in brokerage accounts or in "street name" are not required to take any action to effect an exchange of their pre-Consolidation Shares and are encouraged to contact their intermediary with any questions. Registered shareholders as of the effective date who hold pre-Consolidation Shares represented by a physical certificate or direct registration advice will receive a letter of transmittal from Computershare Investor Services Inc., the Corporation's transfer agent. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or direct registration advices representing pre-Consolidation Shares for new certificates or direct registration advices representing post-Consolidation Shares. Until surrendered, each share certificate or direct registration advice representing pre-Consolidation Shares will represent the number of whole post-Consolidation Shares to which the holder is entitled as a result of the Consolidation rather than the number of pre-Consolidation Shares indicated on the certificate or advice.
The Consolidation will not have any effect on the number of issued and outstanding common share purchase warrants, stock options, restricted share units or convertible debentures of the Corporation. However, as a result of the Consolidation, the number of post-Consolidation Shares issuable upon the exercise of each warrant or stock option will be reduced on a 10:1 basis and their exercise prices will be increased on a 10:1 basis. The number of post-Consolidation Shares issuable on the conversion of each restricted share unit or convertible debenture will be reduced on a 10:1 basis.
The Company believes that the Consolidation is prudent and that it will provide the Company with a share structure that will better attract new shareholder interest and capital financing to provide for future growth opportunities. The Consolidation is subject to final approval from the TSX Venture Exchange.
ON BEHALF OF THE BOARD,
Steve Bromley
Chair and Co-Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information contact:
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Investor Relations
info@organto.com
John Rathwell, Senior Vice President, Corporate Development and Investor Relations