Business
Resin Systems Files Form 15F with the SEC
CALGARY, Dec. 1 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX / RSSYF - OTCBB), a technology innova...
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 1 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX / RSSYF -\nOTCBB), a technology innovator that develops advanced composite material\nproducts for infrastructure markets, announced that today it intends to file\nForm 15F with the U.S. Securities and Exchange Commission ("SEC") to\nvoluntarily suspend its SEC reporting obligations. This action follows the\nBoard of Directors unanimous adoption of a resolution to terminate its\nreporting obligations under the Securities Exchange Act of 1934.\n\n\nWhy did RS take this action?\n\n\nRS determined that this action is in the best interest of shareholders to\ncreate long term value. Among the factors that led to this decision:\n\n\n 1. RS has and continues to be listed and traded on the Toronto Stock\n Exchange ("TSX"), a major global exchange;\n 2. The company has and continues to remain a reporting issuer listed\n on the TSX and will continue to meet its continuous extensive\n disclosure obligations through filings with the applicable\n securities regulators. These filings will continue to be available\n to all RS shareholders on the System of Electronic Analysis and\n Retrieval, www.sedar.com; and\n 3. The dual reporting created a duplication of reporting and\n associated costs. RS will realize significant cost savings with\n the elimination of the duplications.\n\nWhat does this mean for the RS Shareholder?\n\n Trading and Liquidity\n\n RS believes that these steps should have no effect on the trading and\n liquidity in RS shares. Currently and over the past year, over 80\n percent of the volume in RS shares were traded on the TSX.\n\n U.S. Shareholders\n\n U.S. shareholders will be trading their RS shares on the TSX. To\n trade their RS shares on the TSX, an U.S. shareholder will need to\n use a broker who is a Canadian Participating Organization. RS will be\n mailing information to its U.S. holders with instructions on trading\n RS shares on the TSX. In addition, these instructions are posted on\n the Investor section on the RS website, www.grouprsi.com.\n\n Canadian Shareholders\n\n Canadian shareholders will continue trading RS shares on the TSX as\n before.\n\n\n"Our board of directors decided to take this action because it believes\nthat the burdens associated with this duplication of effort and resources\ncannot be justifi...