RE:RE:RE:RE:RE:RE:RE:RE:Share Split Sorry NOT good enough ... I am a agenda king of guy and reviewing the news I'm NOT cool with Frankie looking to triple his shares
look at the wording sub divide his single share into 3
sorry but without a game plan I personally say NO FLIPPIN WAY !!!!!!!!! He makes it sound like he is offering something but it is ALL ABOUT HIM ........PASS ......
KWG Resources Schedules Shareholders Meeting, Proposes to Split Multiple-Voting Shares Three-For-One and to Proceed with Financings
Toronto, Ontario--(Newsfile Corp. - August 23, 2021) - KWG Resources Inc. (CSE: KWG) (CSE: KWG.A) (FSE: KW61) ("KWG" or the"Company") ("KWG") has filed proxy materials for an Annual and Special Meeting of Shareholders to be convened on September 21, 2021 at which management will seek approval to amend the Company's Articles of Incorporation to, amongst other things, adjust the share exchange ratio between its multiple voting shares and its subordinate voting shares from 300:1 to 100:1 by subdividing each outstanding KWG.A multiple-voting share into three KWG.A multiple-voting shares. KWG.A multiple-voting shares are presently convertible into 300 KWG single-vote shares (more commonly known as subordinate voting shares) and, following the subdivision of the multiple-voting shares, KWG.A multiple-voting shares will be convertible into 100 single-vote subordinate voting shares. Conversely, 300 KWG subordinate voting shares are presently convertible into one KWG.A multiple-voting share and, following subdivision of the KWG.A multiple voting shares, 100 KWG subordinate voting shares will be convertible into one KWG.A multiple voting share. Currently, each KWG.A multiple-voting share carries 300 votes and each KWG subordinate voting share carries one vote; following the subdivision of KWG.A multiple-voting shares, each KWG.A multiple-voting share will carry 100 votes and each KWG subordinate voting share continue to carry one vote. Management will also seek shareholder approval for the future creation of Preferred Shares and Special Shares, each in series, upon subsequent authorization by the Company's Board of Directors.
"This will make our capitalization structure a lot simpler," said KWG CEO, Frank Smeenk. "The KWG.A multiple-voting shares will continue to enable buyers and sellers of our shares to narrow the price spreads of the market in the single-vote subordinate voting shares, but now the mental arithmetic for exchanges between the two classes of shares will be much easier."