news 10:1 roll backSilver Fields to roll back shares 1:10
2010-04-05 19:28 ET - News Release
Mr. Chris England reports
PROPOSED SHARE CONSOLIDATION
Silver Fields Resources Inc., subject to the approval of the TSX Venture Exchange, intends to consolidate its issued and outstanding common shares on the basis of one new share for up to 10 common shares issued and outstanding, in order to facilitate future financings.
At the annual and special meeting of shareholders of Silver Fields, scheduled for April 23, 2010, shareholders will be asked to approve a special resolution to approve such a consolidation. In order to be adopted, the special resolution must be approved by at least two-thirds of the votes cast by the holders of the common shares, either present in person or represented by proxy at the meeting.
As at March 22, 2010, there were 108,401,498 issued and outstanding common shares, and the share consolidation would result in approximately 10,840,149 issued and outstanding common shares.
No fractional shares will be issued upon consolidation of the common shares. If as a result of the share consolidation a shareholder becomes entitled to a fractional common share, such fraction will be rounded to the nearest whole common share.
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