Imperial Ginseng Products Ltd. Announces Proposed Share Consolidation
2009年11月10日 - 2:38AM
Marketwired
Imperial Ginseng Products Ltd. (the "Company") (TSX VENTURE: IGP)
today announced a proposed consolidation of its (i) common shares
(the "Common Shares") and (ii) convertible preference shares,
Series "A" (the "Convertible Series A Shares") (the
"Consolidation").
The Common Shares will be consolidated on the basis of ten (10)
existing shares for one (1) new share. Currently there are
22,153,375 Common Shares issued and outstanding. It is anticipated
that the issued and outstanding Common Shares will be in the range
of 2,200,000 on a post-consolidation basis.
The Convertible Series A Shares will be consolidated on the
basis of twenty (20) existing shares for one (1) new share.
Currently there are 26,011,622 Convertible Series A Shares issued
and outstanding. It is anticipated that the issued and outstanding
Convertible Series A Shares will be in the range of 1,300,000 on a
post-consolidation basis.
The Board of Directors of the Company (the "Board") will ask the
holders of the Common Shares at the Company's upcoming annual
meeting on December 9, 2009 to approve the Consolidation. The Board
will ask the holders of Convertible Series A Shares to approve the
Consolidation at a separate meeting to be held in 2010. The Board
may, in their sole discretion, revoke the resolution approving the
Consolidation at any time prior to its implementation.
The Consolidation is subject to shareholder approval, acceptance
of the TSX Venture Exchange and other regulatory approvals as may
be necessary.
Further details with regard to the background of the
Consolidation are contained in the Company's management proxy
circular dated October 29, 2009, a copy of which is available
electronically at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF IMPERIAL GINSENG PRODUCTS
LTD.
Stephen McCoach, Chief Executive Officer and Director
Neither 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 release.
Contacts: Imperial Ginseng Products Ltd. Stephen McCoach Chief
Executive Officer and Director (604) 689-8863 (604) 689-8892 (FAX)
info@imperialginseng.com www.imperialginseng.com
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