Xebec Announces the end of the TSX delisting review process and the listing of its common shares on the TSX Venture as well as amendments to its 2013 Omnibus Plan
MONTREAL, Dec. 23, 2013 /CNW Telbec/ - Xebec Adsorption Inc. (TSX: XBC) ("Xebec"), a provider of biogas upgrading, natural gas, field gas and hydrogen purification and filtration solutions for the clean energy and crude-derived fuels displacement markets, announced today the transfer of its listing from the TSX to the TSX Venture Exchange ("TSXV"), to be made effective on December 24, 2013. Xebec's common shares listed on the TSXV will continue to trade under the symbol "XBC" commencing on that date. Therefore, the TSX delisting review announced on September 18, 2013 is now completed by the listing of Xebec's common shares on the TSXV.
Xebec also announced today that its Board of Directors has approved amendments to the Xebec Adsorption 2013 Amended and Restated Omnibus Plan (the "Plan") that were required to comply with TSXV requirements. In accordance with the provisions of the Plan, the amendments did not require shareholder approval but required acceptance by the TSXV. The amendments include renaming the Plan as the "Xebec Adsorption Stock Option Plan" and moving from a rolling 15% of stock options available for issuance to a fixed number of 5,904,580 Common Shares available for grants.
The Board of Director's decision to amend the Plan comes after Xebec's announcement on November 11, 2013, to initiate the process of listing its Common Shares with the TSX-V.
About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of clean energy solutions to corporations and governments looking to reduce their carbon footprints. With more than 1,300 customers worldwide, Xebec designs, engineers and manufactures innovative products that transform raw gases into marketable sources of clean energy mainly used as transportation fuel. Xebec's strategy is focused on establishing leadership positions in markets where demand for biogas upgrading, natural gas dehydration, liquefaction and hydrogen purification and filtration is growing. Headquartered in Montreal (QC), Xebec is a global company with two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America and Asia. Xebec trades on the TSX under the symbol XBC. For additional information on the company and its products and services, please visit the Xebec web site at www.xebecinc.com.
Caution Concerning Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements within the meaning of applicable securities laws. This forward looking information includes, but is not limited to, the expectations and/or claims of management of Xebec with respect to information regarding the business, operations and financial condition of Xebec. Forward-looking information contained in this press release involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Xebec or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This list is not exhaustive of the factors that may affect forward-looking information contained in this press release. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "will" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this presentation. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.
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