TSX Venture Exchange to De-List Common Shares of NTI Newmerical Inc.
08 Dezember 2009 - 10:01PM
Marketwired
NTI Newmerical Inc. ("NTI" or the "Corporation") (TSX VENTURE: CFD)
announces today that the TSX Venture Exchange (the "TSX-V") has
approved its application to voluntarily de-list the Corporation's
common shares (the "Shares") from that stock exchange (the
"De-Listing"). The Shares will stop trading on the TSX-V as of the
close of business on December 17, 2009 (the "Effective Date").
As previously announced, NTI's shareholders approved the
De-Listing at the Corporation's shareholder meeting held on
December 2, 2009. At that meeting, the shareholders approved the
De-Listing as part of the Corporation's going-private transaction
by way of a share consolidation at a ratio of one new common share
for every 100,000 existing common shares (the "Consolidation").
Under the Consolidation, any shareholder holding less than one new
common share will cease to be a shareholder of the Corporation.
Fractions of new common shares will be cancelled and NTI will pay a
consideration of $0.04 for each common share that forms part of
such a fraction, whether or not it is held by a person who will
remain a shareholder of NTI post-Consolidation.
After the Effective Date, NTI intends to file articles of
amendment to implement the Consolidation. Upon receiving these
articles of amendment, the Corporation intends to apply to the
regulatory authorities in British Columbia, Alberta and Quebec to
cease to be a reporting issuer in those jurisdictions. Once its
reporting issuer status is revoked in each of those provinces, NTI
would cease to be a public company and revert to privately-held
status, its common shares held proportionately by those
shareholders who receive at least one new common share.
For more information on the Consolidation, the De-Listing and
the privatization generally, see NTI's circular dated November 10,
2009 available at www.sedar.com.
Forward-Looking Statements
Certain statements contained in this news release, including
statements regarding the amendment to NTI's articles and the
revocation of its status as a reporting issuer, constitute
forward-looking statements. Such statements, based as they are on
the current expectations of management, inherently involve risks
and uncertainties, known and unknown, many of which are beyond
NTI's control. Such risks include the discretion afforded to the
securities regulatory authorities. There is no guarantee that the
transactions described in this news release will occur. These
statements speak only as of the date made and NTI is under no
obligation and disavows any intention to update or revise such
statements as a result of any event, circumstances or
otherwise.
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: NTI Newmerical Inc. Dr. Wagdi G. Habashi President and
Chief Executive Officer 514-592-8163
wagdi.habashi@newmerical.com
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