14:31:38 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Sable Resources Ltd (2)
Symbol SAE
Shares Issued 31,806,750
Close 2014-07-24 C$ 0.01
Market Cap C$ 318,068
Recent Sedar Documents

Sable to roll back shares 1:10 Aug. 7

2014-08-06 16:27 ET - News Release

Mr. Melvyn Rahal reports

SABLE RESOURCES LTD. TO COMPLETE SHARE CONSOLIDATION

The TSX Venture Exchange has approved Sable Resources Ltd.'s share consolidation on the basis of one postconsolidation common share for every 10 preconsolidation common shares. The share consolidation will be completed effective Aug. 7, 2014. The share consolidation was approved by shareholders at the company's annual and special general meeting held on June 30, 2014. The company's common shares will begin trading on the exchange on a consolidated basis at the market open on Thursday, Aug. 7, 2014. The new Cusip for the company's postconsolidation common shares is 785713306. The 31,806,750 preconsolidation common shares of the company will be reduced to approximately 3,180,675 postconsolidation common shares. If the share consolidation would otherwise result in the issuance of a fractional common share, no fractional common shares will be issued, and any fractional shares will be converted into whole common shares. Each fractional common share remaining after consolidation that is less than one-half of a common share will be cancelled, and each fractional common share that is at least one-half of a common share will be changed to one whole common share. The exercise or conversion price, and the number of common shares issuable under any of the company's outstanding warrants and stock options will be proportionately adjusted to reflect the share consolidation.

The company has retained its transfer agent, Computershare Investor Services Inc., to act as the exchange agent for the share consolidation. Shareholders of record as at the effective date will receive a letter of transmittal providing instructions for the exchange of their common shares as soon as practicable following the effective date. To receive share certificates representing the postconsolidation common shares, registered shareholders will be required to send their share certificates representing preconsolidation common shares, along with a properly executed letter of transmittal, to Computershare, in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal may be obtained from Computershare by calling 1-800-564-6253. Non-registered shareholders who own common shares in book-entry form do not need to take any actions to exchange their preconsolidation book-entry common shares for postconsolidation common shares. Upon the effective date, each then-existing book-entry account will be adjusted to reflect the number of postconsolidation common shares to which the non-registered shareholder is entitled.

© 2024 Canjex Publishing Ltd. All rights reserved.