eMedia Announces Going Private Plan of Arrangement Becomes Effective
29 1월 2014 - 3:38AM
Marketwired
eMedia Announces Going Private Plan of Arrangement Becomes
Effective
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 28, 2014) -
eMedia Networks International Corporation. (TSX-VENTURE:EMM)
("eMedia" or "Company") announces that its previously announced
going-private transaction by way of a statutory plan of arrangement
("Arrangement") under the Business Corporations Act (British
Columbia) became effective January 23, 2014.
The Arrangement involves, among other things, the consolidation
("Consolidation") of the Company's issued and outstanding common
shares ("Common Shares") on the basis of one post-Consolidation
common share for every 1,213,000 Common Shares issued and
outstanding, as well as the cancellation of the stock option plan.
After giving effect to the consolidation, each holder of
pre-Consolidation Common Shares who holds less than one
post-Consolidation Common Share ("Fractional Holders") will be
paid, in lieu of any fractional post-Consolidation Common Share,
$0.045 in cash by the Company in exchange for each
pre-Consolidation Common Share held by them ("Fractional
Consideration") and such Fractional Holder will cease to be the
holder thereof or have any rights as a holder in respect of such
Common Shares other than the right to be paid by the Company the
Fractional Consideration for such Common Shares and the name of the
holder thereof will be removed from the central securities register
of the Company with respect to such Common Shares.
The Common Shares are expected to be delisted from the TSX
Venture Exchange effective at the close of business on January 28,
2014. The Company will apply to the applicable Canadian securities
regulatory authorities to cease to be a reporting issuer.
Details regarding the terms of the Arrangement are set out in
the management information circular dated December 9, 2013 and the
November 22, 2013 press release which is available at
www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
eMedia Networks International Corporation.Darren ReiterCEO(604)
742-3344reiter@emedianetworks.comwww.emedianetworks.com
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