Belgravia Announces Proposed Share Consolidation
In this news:
Key takeaways
- Belgravia Hartford Capital plans a one-for-ten share consolidation.
- The move aims to enhance marketability and position the company for fundraising.
Belgravia Hartford Capital Inc. announces that it intends to complete a consolidation of its issued and outstanding common shares on the basis of one new share for every ten currently outstanding shares. The shares will continue to be listed on the CSE under the symbol BLGV and the OTCQB under the symbol BLGVF.
Completion of the consolidation is subject to approval by the Canadian Securities Exchange. The effective date of the consolidation will be announced in a subsequent news release.
Share structure changes
It is anticipated that the consolidation will reduce the number of outstanding shares from 137,720,837 shares to approximately 13,772,083 post-consolidated shares, subject to adjustment for rounding. The Board of Directors of the Company believes that the consolidation of the shares will both enhance the marketability of the Company as an investment and better position the Company to raise funds necessary to execute the Company's business plan.
No fractional post-consolidated shares will be issued as a result of the consolidation. As required under the Business Corporations Act, any fractional shares remaining after the consolidation that are less than one half of a share will be cancelled and any fractional shares that are at least one half of a share will be rounded up to one whole share.
The exercise price and number of shares of the Company, issuable upon the exercise of outstanding warrants, will be proportionally adjusted upon the implementation of the proposed consolidation in accordance with the terms thereof.
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