Mr. John Belfontaine reports
DGTL HOLDINGS INC. REPORTS TSXV APPROVAL OF SHARE CONSOLIDATION AND AMENDED LTIP
The TSX Venture Exchange has approved a consolidation of DGTL Holdings Inc.'s issued and outstanding common shares and long-term incentive plan. Both the consolidation and the LTIP were resolutions proposed at an annual general and special shareholders meeting held on July 30, 2024. The AGSM final scrutineer report recorded 95 per cent of the votes cast by the shareholders of the company were in favour of passing these resolutions.
The consolidation of the common shares of the company is set on the basis of one postconsolidation common share for every 15 preconsolidation common shares. The company currently has 76,465,970 common shares issued and outstanding. Following the consolidation effective date, there will be approximately 5,097,731 common shares issued and outstanding. The effective date of consolidation is set for Friday, Aug. 23, 2024.
No fractional shares will be issued as a result of the consolidation. Fractional share interests of 0.5 or higher, arising from the consolidation, will be rounded up to one whole common share, and fractional common share interests of less than 0.5 will be cancelled. Convertible preferred shares will also be subject to the one-for-15 common share consolidation ratio.
The company's name and trading symbols will remain unchanged postconsolidation. The new Cusip number for the postconsolidation common shares will be 23343T203, and the new ISIN number will be CA23343T2039. A letter of transmittal from the company's transfer agent will be sent to registered shareholders. Shares held in brokerage accounts do not require further action to effect an exchange of postconsolidation common share holdings.
The company also reports both shareholder and exchange approval of the company LTIP (10 per cent of all issued and outstanding common shares to be eligible for fixed awards and 10 per cent to be eligible for a rolling stock option grants). The approved LTIP results in the total fixed preconsolidation shares eligible for grant as 7,646,597 (calculated as 10 per cent of the total issued and outstanding shares as of the date of the AGSM). A copy of the newly approved LTIP is available on the company's SEDAR+ profile web page.