4:1 consolidation is a hot topic today Consolidation
The board of directors of the company has approved the consolidation of all of Aston Bay's outstanding common shares on the basis of four preconsolidation common shares for one postconsolidation common share to take effect immediately prior to the closing of the offering and upon receipt of TSX-V approval. The reasons for the consolidation are to increase Aston Bay's flexibility in the marketplace and to make the company's securities more attractive to a wider audience of potential investors.
The company currently has 178,453,594 common shares issued and outstanding. Assuming no changes in the number of the common shares outstanding, after giving effect to the consolidation (prior to taking into account the common shares issued in the offering described above), the company would have approximately 44,613,399 common shares issued and outstanding.
Any fractional interest in common shares resulting from the consolidation will be rounded to the nearest whole common share. If accepted by the exchange, Aston Bay will retain its current name and the consolidation will occur immediately prior to the closing of the offering (as defined above).
The exercise price and number of common shares issuable upon the exercise of Aston Bay's outstanding stock options and warrants will be proportionately adjusted to reflect the consolidation, in accordance with the terms of such securities