Toronto, Ontario – TheNewswire - October 28, 2021 – Imaging Dynamics Company Ltd. (“IDC” or the “Company”) (TSXV:IDL) is pleased to announce that the Company has received TSX Venture Exchange (the “Exchange”) approval for the consolidation of its outstanding common shares on the basis of one (1) post-consolidated common share for every twenty (20) pre-consolidated common shares held (the “Consolidation”). Further information in respect of the Consolidation is provided in the Company’s management information circular dated as of August 11, 2021, a copy of which is available on SEDAR at www.sedar.com.
Effective as at the opening of trading on November 2, 2021, the consolidated common shares of the Company will commence trading on the Exchange.
A letter of transmittal with respect to the Consolidation has been mailed to registered shareholders of the Company. All registered shareholders with physical certificates are required to send their respective certificates representing pre-consolidated common shares along with a completed letter of transmittal to the Company’s transfer agent, Computershare Trust Company of Canada (“Computershare”), in accordance with the instructions provided in the letter of transmittal, in order to receive post-consolidated physical share certificates. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Consolidation.
Fractional post-consolidation common shares will not be issued to shareholders. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional common share, the number of post-consolidation common shares issued to such shareholder shall be rounded down to the next greater whole number of common shares. In calculating such fractional interests, all common shares held by a beneficial holder shall be aggregated.
IDC further announces that is in connection with the Consolidation, IDC has amended and restated its Stock Option Plan in order to, among other things: (i) change the Stock Option Plan from a rolling 10% stock option plan to a fixed number stock option plan where up to an aggregate of 1,000,000 post-Consolidation common shares may be issued upon of exercise of options granted thereunder; and (ii) provide for certain additional limitation relating to the granting of options under the Stock Option Plan as required by the policies of the Exchange. A copy of the Stock Option Plan is available on SEDAR.
About Imaging Dynamics Company (IDC):
IDC is a global medical imaging technology provider and innovative force in the high technology growth field of digital radiography (DR). Digital Radiography is a form of X-ray imaging which replaces conventional film-based diagnostic imaging and provides a cost-effective solution for medical facilities of all sizes to provide high quality diagnostic X-ray images with the use of Flat Panel detectors to enhance the digital image quality and improve the level of healthcare for their patients. The Company has its corporate office in Concord, Ontario.
Visit the IDC web site: www.imagingdynamics.com
For more information, please contact:
Mr. Neil Yan
Chief Financial Officer
Email: nyan@imagingdynamics.com
1.403.251.9939 Office
1.866.975.6737 Toll Free
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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