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Enablence Technologies Announces Results from Annual and Special Shareholders' Meeting; Provides Update on Recapitalization Transaction
Enablence Technologies Announces Results from Annual and Special Shareholders' Meeting; P...
About this update from Enablence Technologies Inc.
[{"type":"text","content":"\n \n \n \n Enablence Technologies Announces Results from Annual and Special Shareholders' Meeting; Provides Update on Recapitalization Transaction\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n OTTAWA, ON\n \n ,\n \n Oct. 26, 2021\n \n /CNW/ - Enablence Technologies Inc. (\"\n \n Enablence\n \n \" or the \"\n \n Company\n \n \") (TSXV: ENA), a supplier of optical components and subsystems, is pleased to announce the results of its annual and special shareholders' meeting held earlier today (the \"\n \n Meeting\n \n \"). At the Meeting, all of the resolutions described in the management information circular of the Company dated\n \n September 21, 2021\n \n (the \"\n \n Circular\n \n \"), were approved by shareholders of the Company, including the requisite shareholder approvals of the Recapitalization Transaction (as defined below) as well as: (i) the adoption of the Omnibus Equity Incentive Plan (as defined in the Circular); (ii) the election of the director nominees described in the Circular (being Mr.\n \n Derek H. Burney\n \n , Mr.\n \n Louis De Jong\n \n and Mr.\n \n Dan Shmitt\n \n ); and (iii) the re-appointment of MNP LLP as auditor of the Company.\n \n \n \n Update on Recapitalization Transaction\n \n \n \n At the Meeting, the Company obtained the requisite shareholder approvals to, among other things, complete the recapitalization transaction as more particularly described in the Circular (the \"\n \n Recapitalization Transaction\n \n \"), including: (i) the consolidation of the outstanding common shares of the Company (the \"\n \n Common Shares\n \n \") on the basis of one post-consolidation Common Share in exchange for a number of pre-consolidation Common Shares within a range of fifty (50) to two-hundred (200), as may be determined by the Board of Directors at a future date; (ii) the creation of Mr.\n \n Dan Bordessa\n \n together with Ms.\n \n Maria Semenko\n \n as a new \"control person\" of the Company resulting from the issuance of Common Shares to them under the terms of the Shares-for-Debt Settlem...