RE:RE:RE:is this correct NOTICE IS HEREBY GIVEN that an annual and special meeting (the “Meeting”) of the holders of the common shares (collectively, the “Shareholders” or individually, a “Shareholder”) of Chrysalis Capital IX Corporation (the “Corporation”) will be held at the offices of Aird & Berlis LLP, Brookfield Place, Suite 1800, 181 Bay Street, Toronto, Ontario, M5J 2T9 on Friday, May 22, 2015 at the hour of 11:00 a.m.
Pursuant to the terms of the Proposed Transaction and subject to Exchange approval, the Corporation proposes to consolidate the issued and outstanding Common Shares by a ratio of up to 20:1 (the “Share Consolidation”) with any resulting fraction being rounded either up or down to the next highest or lowest number of the whole consolidated common shares, as the case may be. If approved by Shareholders, it is anticipated that the Share Consolidation would be completed on or immediately prior to the closing of the Proposed Transaction. Accordingly, Shareholders will be asked at the Meeting to pass a special resolution authorizing the Share Consolidation. The Board has unanimously approved the Share Consolidation and recommends that Shareholders vote FOR the Share Consolidation. To be effective, the special resolution approving the Share Consolidation must be approved by at least 66 2/3% of the votes cast in person or by proxy at the Meeting. Notwithstanding the foregoing, as indicated in the text of the special resolution below, the Board may, in its sole discretion, whether or not the Proposed Transaction is completed, determine that the Corporation not proceed with the Share Consolidation.
......makes complete sense.