NEWS
Hilltop to roll back shares 1:10, change name
2019-06-17 16:51 ET - News Release
An anonymous director reports
HILLTOP CYBERSECURITY ANNOUNCES CONSOLIDATION AND NAME CHANGE
Hilltop Cybersecurity Inc. will be completing a share consolidation on the basis of one postconsolidation common share for every 10 preconsolidation common shares. Effective at the commencement of trading on June 20, 2019, the company will begin trading on the Canadian Securities Exchange on a postconsolidated basis under the new stock symbol GLL. The new CUSIP and International Securities Identification Number are: 38871L208 and CA38871L2084, respectively. The company will also undergo a name change in conjunction with the consolidation. The new name of the company will be Gallagher Security Corp.
Currently there are 75,970,184 common shares issued and outstanding, and after the consolidation there will be approximately 7,597,018 common shares issued and outstanding. The company will not be issuing fractional postconsolidation common shares to shareholders in connection with the consolidation. Where the consolidation would otherwise result in a shareholder being entitled to a fractional common share, the number of postconsolidation common shares issued to such holder of common shares shall be rounded up to the next greater whole number of common shares if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5. In calculating such fractional interests, all common shares held by a beneficial holder shall be aggregated.
After the consolidation there will be approximately 1,346,637 warrants, 632,487 stock options and 3,858,816 convertible shares issued and outstanding.
A letter of transmittal with respect to the consolidation will be mailed to registered shareholders of the company. All registered shareholders with physical certificates will be required to send their respective certificates representing preconsolidated common shares along with a completed letter of transmittal to the company's transfer agent, Computershare Investor Services Inc., in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare. All shareholders who submit a duly completed letter of transmittal along with their respective preconsolidated common share certificate(s) to Computershare will receive a postconsolidation share certificate.
Shareholders who hold their common shares through a broker or other intermediary, and do not have common shares registered in their name, will not need to complete a letter of transmittal.