Toronto, Ontario--(Newsfile Corp. - August 21, 2024) - DGTL Holdings Inc. (TSXV: DGTL) ("DGTL" or the "Company") reports that the TSX Venture Exchange (the "Exchange") has approved a consolidation of the Company's issued and outstanding common shares (the "Consolidation") and Long Term Incentive Plan ("LTIP"). Both the Consolidation and the LTIP were resolutions proposed at an Annual General and Special Shareholders Meeting ("AGSM") held on July 30th, 2024. The AGSM Final Scrutineers Report recorded 95% 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 (1) post-consolidation common share for every fifteen (15) pre-consolidation common shares. The Company currently has 76,465,970 common shares issued and outstanding. Post 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 August 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 fifteen-for-one common share consolidation ratio.
The Company's name and trading symbols will remain unchanged post-Consolidation. The new CUSIP number for the post-Consolidation 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 post-consolidation common share holdings.
The Company also reports both shareholder and exchange approval of the Company LTIP (10% of all issued and outstanding common shares to be eligible for fixed awards and 10% to be eligible for a rolling stock option grants). The approved LTIP results in the total fixed pre-consolidation shares eligible for grant as 7,646,597 (calculated as 10% 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 webpage found at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220655
