Good News....Ready soon
Global Railway Industries buys back dissented shares
2013-02-20 18:48 ET - News Release
Mr. Tom Kusumoto reports
GLOBAL RAILWAY INDUSTRIES LTD. PROVIDES UPDATE ON REVOCATION OF CERTIFICATE DISSOLUTION AND CONTINUATION AND ANNOUNCES REPURCHASE OF DISSENTED SHARES
Global Railway Industries Ltd. has received confirmation of the Alberta Registrar of Corporations' receipt of its revocation of intent to dissolve. Notice of the revocation will be published in the Alberta Gazette on March 15, 2013, following which the company will proceed with a continuation out of the jurisdiction of Alberta and into the jurisdiction of British Columbia.
The company received a valid notice of dissent to the continuation for 1,373,100 shares of the company. Under applicable corporate law, the company must purchase the dissented shares for fair value as of the close of business on Jan. 30, 2013, in order to proceed with the continuation. Accordingly, the company has purchased the dissented shares and is returning them to treasury. Following completion of the purchase and cancellation of the shares, the company will have 13,890,965 issued and outstanding shares.