GREY:CCZFF - Post by User
Post by
davewhoon Feb 12, 2019 7:39pm
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Post# 29355760
Going private
Going privateKicked off the TSX and don't qualify for the Venture due to low shareholder numbers.
The Board of Directors of Critical Control has resolved it to be in the best interests of the Corporation to forthwith delist from the TSX for the following reasons:
1. Critical Control does not meet the TSX continued listing requirements nor is it likely to meet such requirements in the time allotted. 2. Critical Control does not meet the TSX Venture, or available alternative exchanges, continued listing requirements of having a minimum of 150 shareholders and it is not in the Corporation’s best interests to commit to a plan to remediate such deficiency. 3. 70% of the common shares of Critical Control are held by 4 shareholders and 92% of the common shares are held by 14 shareholders. The remaining shares have a value of less than $650,000 which is insufficient for a public company in the opinion of the board of directors. 4. The current market capitalization is insufficient to provide reasonable access to capital. 5. The best interests of the Corporation are best served by delisting from the TSX on an expedite basis.
Critical Control submitted the application to delist from the TSX on February 12, 2019, and proposes to delist the common shares and preferred shares of Critical Control from trading after the close of business on February 28, 2019. The voluntary delisting of the shares is subject to the approval of the TSX and the anticipated timing may be subject to revision.
Sad end for a company with such promise. Maybe the remaining owners will make some $$ eventually.