The Toronto Stock Exchange reports that Chorus Aviation Inc. has rolled back its voting and variable voting shares on a one-new-for-seven-old basis, effective at the open on Feb. 10, 2025. According to the TSX, the shares will continue trading under the symbol CHR. The new Cusip number for the shares is 17040T 88 8.

The TSX notes that no fractional shares will be issued in connection with the consolidation. The number of postconsolidation shares to be received by a registered shareholder will be rounded up, in the case of a fractional interest that is 0.5 or greater, or rounded down, in the case of a fractional interest that is less than 0.5, to the nearest whole number. To receive the new shares, shareholders must return the letter of transmittal together with share certificates to TSX Trust Company at its principal offices in Toronto.

According to the TSX, currently, the Series B debentures are convertible into shares at a conversion price of $6.35 per share, being a conversion rate of approximately 157.4803 shares for each $1,000 principal amount of the Series B debentures. As a result of the consolidation, the Series B debentures will be convertible into postconsolidated shares on and after Feb. 10, 2025, at a conversion price of $44.45 per share, being a conversion rate of approximately 22.4972 shares for each $1,000 principal amount of Series B debentures.

For more information, see the management proxy circular of Chorus dated Dec. 23, 2024, and Chorus's news releases dated Feb. 4, 2025, and Feb. 5, 2025.