Share Consolidation Share Consolidation
The company intends to present a common share consolidation proposal at the Annual General Meeting of shareholders, to be held on April 22, 2013.
The share consolidation proposal is intended to achieve both tactical and strategic objectives. Tactically, the Company's shares must trade above $1 for 10 consecutive days by May 20, 2013 in order to maintain its NASDAQ listing. Maintaining this avenue to trade the Company's shares and enhance liquidity is a key objective of the management team and the Board of Directors. Strategically, a tighter capital float will facilitate future growth initiatives and provide greater visibility in the capital markets, re-positioning the Company's stock price amongst its peers and providing the Company a solid base from which to grow.
As planned, shareholders would receive 1 new consolidated common share for every 2.5 to 3.5 existing common shares; the final ratio will be determined by management closer to the execution of the consolidation. Details regarding the proposal will be outlined in Ivanhoe's management proxy circular to be mailed to shareholders of record on or about March 28, 2013.
Undertaking a share consolidation at this time reinforces the Company's concerted efforts to refocus and restructure itself around its core competencies to create shareholder value.
The company intends to present a common share consolidation proposal at the Annual General Meeting of shareholders, to be held on April 22, 2013.
The share consolidation proposal is intended to achieve both tactical and strategic objectives. Tactically, the Company's shares must trade above $1 for 10 consecutive days by May 20, 2013 in order to maintain its NASDAQ listing. Maintaining this avenue to trade the Company's shares and enhance liquidity is a key objective of the management team and the Board of Directors. Strategically, a tighter capital float will facilitate future growth initiatives and provide greater visibility in the capital markets, re-positioning the Company's stock price amongst its peers and providing the Company a solid base from which to grow.
As planned, shareholders would receive 1 new consolidated common share for every 2.5 to 3.5 existing common shares; the final ratio will be determined by management closer to the execution of the consolidation. Details regarding the proposal will be outlined in Ivanhoe's management proxy circular to be mailed to shareholders of record on or about March 28, 2013.
Undertaking a share consolidation at this time reinforces the Company's concerted efforts to refocus and restructure itself around its core competencies to create shareholder value.