TORONTO, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Brompton Corp. (the “Corporation”) is pleased to announce that at a special meeting of shareholders held today (the “Meeting”) common shareholders and class A shareholders (the “Shareholders”) approved a special resolution to implement a consolidation of the common shares (the “Common Shares”) in order to effect a going private transaction involving the Corporation.  The Consolidation Resolution authorizes the consolidation of the issued and outstanding Common Shares on the basis of one Common Share for each 320,000 Common Shares outstanding immediately prior to the consolidation (the “Share Consolidation”). On implementation of the Share Consolidation, fractional shares will not be issued.

In lieu of a fractional share, each holder of Common Shares will be entitled to receive cash consideration of $0.15 for each pre-consolidation Common Share held.  In order to receive such consideration, registered holders of Common Shares must deliver a properly completed letter of transmittal which accompanied the management information circular.  Shareholders who hold their Common Shares in book entry form through their broker or investment dealer need not take any action.
             
The Share Consolidation is expected to become effective on or about March 1, 2019.

Further details regarding the Share Consolidation are available in the Corporation’s management information circular dated January 28, 2019.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws.  The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking statements.  Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking information because the Corporation can give no assurance that they will prove to be correct. 

Since forward-looking statements and forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties.  Actual results could differ materially from those currently anticipated.

The Corporation assumes no obligation to update forward-looking statements or information except as may be required by applicable securities laws.

Mark A Caranci                                                         
President & CEO                                                       
Brompton Corp.                                                         
(416) 642-9061          

 

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