Imperial Ginseng Products Ltd. Announces Share Consolidation
2010年12月15日 - 7:24AM
Marketwired
Imperial Ginseng Products Ltd. (TSX VENTURE: IGP)(TSX VENTURE:
IGP.PR.A) (the "Company") announces that it held today a special
meeting of its preferred shareholders of convertible preference
shares, Series "A" (the "Preferred Shareholders") of the Company,
which was adjourned from its original date of December 7, 2010. The
Preferred shareholders at the meeting approved a consolidation of
their shares on the basis of twenty (20) existing shares for one
(1) new share.
The convertible preference shares, Series "A" consolidation is
the second step the Company has undertaken in the last year to
consolidate its shares. In the fall of 2009, shareholders of the
common shares of the Company approved a consolidation of their
shares on the basis of ten (10) existing shares for one (1) new
share.
Both of these share consolidations are subject to TSX Venture
Exchange approval and the Company will make a further announcement
when an approval is obtained.
As at the date of this announcement, there are 22,374,492 common
shares and 25,456,122 convertible preference shares, Series "A"
issued and outstanding. Upon regulatory approval, the
consolidations would result in approximately 2,237,400 common
shares and 1,272,800 convertible preference shares, Series "A"
issued and outstanding.
The Company noted that if the consolidations results in the
issuance of a fractional share, such share will be rounded up or
down to the nearest whole number. In addition, the conversion price
of convertible preference shares, Series "A" will be proportionally
adjusted upon the implementation of the consolidations.
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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