RE:RE:RE:RE:RE:RE:RE:MeetingLGO5yrplan wrote: The two separate reports have the "up to" in different places. Up to 1 post consolidation for every 10 preconsolidation is a lot different than 1 post consolidation share for up to every 10 pre consolidation. Am I reading this correctly?
A reverse stock split consolidates the number of existing shares by dividing them by a number such as 2 or 3 or 4...or 10, or more up to whatever the number should be, which would be called a 1-for-2 or 1-for-3 or 1-for-4…or 1-for-10, or 1-for-more consolidation. So “up to 1-for-10” consolidation or “1-for-any number up to 10” consolidation is the same thing as both indicate that the existing shares can only be divided by a maximum of 10. But it doesn’t matter, does it? What is important is that in the document officially filed by Largo in SEDAR, it is clearly stated that "the precise share consolidation ratio and timing of implementation of the Share Consolidation to be determined by the Board, in its sole discretion ".
MATTERS TO BE ACTED UPON AT THE MEETING CONSOLIDATION OF COMMON SHARES
At the Meeting, shareholders will be asked to consider for approval, with or without amendment, a special resolution (the "Share Consolidation Resolution") to authorize the Company to amend its articles to consolidate the outstanding Common Shares based on a ratio of one post-consolidation Common Share for up to every ten (10) pre-consolidation Common Shares (the "Share Consolidation") held, with the precise share consolidation ratio and timing of implementation of the Share Consolidation to be determined by the Board, in its sole discretion.