TRADING SYMBOL: RLX and RLX.A (TSXV)
CALGARY, June 15 /CNW/ - Realex Properties Corp. ("Realex" or the "Corporation") is pleased to announce that the TSX Venture Exchange (the "TSXV") has issued a bulletin approving of the proposed reorganization of the non-voting shares of the Corporation ("Non-Voting Shares") into common shares of the Corporation ("Common Shares") and the subsequent consolidation of the Corporation's Common Shares at a ratio of 10 to 1. The Corporation's Common Shares will commence trading on a consolidated basis on the TSXV under the stock symbol "RP" at the opening of trading on June 16, 2010.
At the Corporation's annual and special meeting of shareholders held on June 2, 2010, shareholders authorized the board of directors to amend the articles of the Corporation to reorganize the Non-Voting Shares into Common Shares on a 1:1 basis and to consolidate the Common Shares at a ratio of 10 to 1, as more particularly described in the information circular of the Corporation dated April 28, 2010, which is available online at www.SEDAR.com. The Corporation currently has 72,791,250 Common Shares, 114,336,161 Non-Voting Shares and 49,454 preferred shares Series A issued and outstanding, and after giving effect to the reorganization and consolidation, the Corporation will have approximately 18,712,700 Common Shares and 49,454 preferred shares Series A issued and outstanding. The Corporation's name will not change as a result of the consolidation.
The Corporation's shareholders, at the meeting, also elected the Corporation's Board of Directors, re-appointed Deloitte & Touché LLP as auditors of the Corporation, approved the Corporation's stock option plan until the next meeting of the shareholders and amended and renewed its Shareholder Rights Plan.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward looking statements subject to various significant risks and uncertainties which may cause actual results, performances and achievements of Realex to be materially different from any future results, performances or achievements, expressed or implied by such forward looking statements. Realex cannot assure investors that actual results will be consistent with these forward looking statements and Realex assumes no obligation to update or revise them to reflect new events or circumstances.
SOURCE REALEX PROPERTIES CORP.
For further information: For further information: Tom Heslip, President and Chief Executive Officer, Realex Properties Corp., Telephone: (403) 206-3149, Facsimile: (403) 264-5892, Email: firstname.lastname@example.org; Mark Suchan, Senior Vice President, Chief Financial Officer and Secretary, Realex Properties Corp., Telephone: (403) 206-3143, Facsimile: (403) 264-5892, Email: email@example.com