Conporec Announces the Consolidation of its Shares
November 29 2007 - 6:09PM
Marketwired
SOREL-TRACY, QUEBEC ("Conporec" or the "Corporation") announces
that, effective November 29, 2007, it has completed articles of
incorporation the consolidation of its common share on the basis of
10 currently issued and outstanding shares for 1 new common share
(the "Consolidation"). This Consolidation was approved by the
shareholders of Conporec at its annual general and special meeting
held on June 12, 2007. During the next days, the shareholders will
receive a notice from the transfer agent, CIBC Mellon Trust
Company, describing the information required to exchange their
common shares certificates and their warrant certificates following
the consolidation. The new shares will be traded on the TSX
Ventures Exchange inc. (the "TSX Venture Exchange"), under the
ticker symbol CNX. Following this Consolidation, the Corporation
will retain its name.
Moreover, the warrants currently issued and outstanding will be
adjusted automatically, according to the terms and conditions of
the Warrants Agreement, as at the effective date of Consolidation
to adjust the exercise price of these warrants and the common
shares that may be acquired following this Consolidation.
Before the Consolidation, 126 924 130 common shares of Conporec
were issued and outstanding. Following the Consolidation, 12 692
413 common shares are issued and outstanding.
This Consolidation is being done to favor and facilitate the
investments of various institutional investors, especially European
investors, following major issues of shares and convertible
securities by Conporec over the past year. As announced by Conporec
last November 19, 2007, this Consolidation will also facilitate the
Alternext/Euronext eventual listing.
On October 9, 2007, TSX Venture Exchange conditionally accepted
the filing on the Corporation related to the Consolidation, subject
to filing the documents.
About Conporec
Conporec inc. develops and operates various patented composting
and sorting technologies for the treatment and recycling of
municipal solid waste. Conporec successfully delivered or under
construction of several sorting-composting plants in Canada,
France, United States and Australia and also about thirty
composting installations in Canada. Conporec is a socially
responsible organization listed on the TSX Venture Exchange.
The TSX Venture Exchange has not approved the information
contained herein and accepts no responsibility for it, nor the
validity of the operation planned.
Contacts: Source: Conporec inc. www.conporec.com Conporec inc.
Jean Beaudoin President and CEO 450-746-9996 or 418-527-9996 HKDP
Communications and Public Affairs Frederic Berard 514-395-0375,
ext. 230