The Toronto Stock Exchange reports that Gendis Inc. will be delisted at the close on April 17, 2018. According to the TSX, the delisting results from the recent consolidation of the company's shares on a one-new-for-500,000-old basis.
Under the rollback, every preconsolidation Gendis share not held by the controlling shareholder group will become a fractional share to be cancelled in exchange for a cash payment based on the number of preconsolidation Gendis share held. The TSX reports that Gendis shareholders will receive $5.25 in cash per preconsolidation share.
For more information, see the company's management information circular dated March 10, 2018.
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