GREY:ATIVF - Post Discussion
Post by
goofenoff on Jan 11, 2011 8:03am
Consolidation 20:1 Feb 10 @ ASM
Active Control to Consolidate Stock to Facilitate Financing (ccnm)
TORONTO, ONTARIO--(Marketwire - Jan. 11, 2011) -Active Control Technology Inc. (TSX VENTURE:ACT), a leading provider inthe design, manufacture and marketing of both wireless and fibernetwork solutions for mine communications, and the commercial securityand access control industries, today announced that its Annual Generaland Special Meeting of Shareholders ("ASM") will be held on ThursdayFebruary 10, 2011. At the ASM, the Company will be seeking shareholderapproval to, among other things, consolidate the outstanding capital ofthe Company on the basis of one (1) post-consolidation common share forup to every twenty (20) outstanding common shares (the "Consolidation").There are currently 233,393,300 common shares outstanding. Followingthe Consolidation as proposed (20:1), there will be 11,669,665post-consolidation common shares outstanding. The Company wishes toundertake the Consolidation to provide additional flexibility in seekingfinancing given the pricing rules on the TSX Venture Exchange ("TSXV")and the current trading price of the Company's shares. The Company willalso be seeking shareholder ratification of the extension of theShareholder Rights Plan established pursuant to the Shareholder RightsPlan Agreement dated October 26, 2007 between the Company and EquityTransfer & Trust Company (now known as Equity Financial TrustCompany), as rights agent, for a further three (3) years. TheShareholder Rights Plan Agreement may be found at the Company's profileon SEDAR at www.sedar.com
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