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Enablence Technologies Announces Updates on Consolidation and Expected Closing of Recapitalization
Enablence Technologies Announces Updates on Consolidation and Expected Closing of Recapit...
About this update from Enablence Technologies Inc.
[{"type":"text","content":"\n \n \n \n Enablence Technologies Announces Updates on Consolidation and Expected Closing of Recapitalization\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 Nov. 19, 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 that the Company has received TSX Venture Exchange (the \"\n \n Exchange\n \n \") approval for the consolidation of its outstanding common shares (\"\n \n Common Shares\n \n \") on the basis of one (1) new post-Consolidation Common Share in exchange for each one hundred and twenty (120) pre-Consolidation Common Shares (the \"\n \n Consolidation\n \n \"). The Common Shares will commence trading on the Exchange, on a post-consolidation basis, effective at the opening of trading on\n \n November 22, 2021\n \n .\n \n \n The new CUSIP number of the post-Consolidation Common Shares will be 292483302 and the new ISIN number will be CA2924833023. The Company will not issue any fractional post-Consolidation Common Shares. Instead, each fractional share remaining after conversion will be rounded down to the nearest whole post-Consolidation Common Share. The Company's name and stock symbol will remain unchanged following the Consolidation.\n \n \n A letter of transmittal with respect to the Consolidation has been mailed to registered shareholders of the Company as part of the meeting materials sent in connection with the Company's annual and special shareholders' meeting held on\n \n October 26, 2021\n \n . The letter of transmittal contains instructions to registered shareholders on how to receive a post-Consolidation share certificate or Direct Registration (DRS) advice.\n \n \n \n \n Update on Closing of Recapitalization Transaction\n \n \n \n \n As announced on\n \n November 15, 2021\n \n , the Company has obtained the necessary approvals to complete shares-for-debt settlements with certain unsecured creditors holding an aggregate of\n \n C$43,567,844\n \...