TORONTO, Jan. 31 /CNW/ - Points International Ltd. (TSX: PTS; OTCBB:
PTSEF), the owner and operator of Points.com, the world's leading
reward program management web site, today announced the completion of
its previously announced share consolidation of its common shares
through a one-for-ten reverse split. Points International's common
stock will begin trading on a split adjusted basis on the Toronto Stock
Exchange ("TSX") and the Over-the-Counter Bulletin Board Market
("OTCBB") when the market opens on February 2, 2011. As such, the last
pre-consolidation trading day will be tomorrow, February 1, 2011.
Following the consolidation, the Company's shares will continue to
trade under the symbol "PTS" on the TSX and temporarily under the
symbol "PTSED" on the OTCBB.
Pursuant to the reverse stock split, shareholders will receive one new
common share for every ten shares held. No fractional shares will be
issued as a result of the share consolidation, and in the event that a
shareholder would otherwise be entitled to receive a fractional share,
such fraction will be rounded down to the nearest whole number. The
share consolidation reduced the Company's issued and outstanding shares
of common stock to approximately 15.0 million.
Stockholders of record will receive a letter of transmittal providing
instructions for the exchange of their shares as soon as practicable.
Shareholders with shares in brokerage accounts will be contacted by
their brokers with instructions. Computershare Trust Company of Canada
is acting as the Company's transfer agent, and can be contacted at
(800) 564-6253 with any questions.
About Points International Ltd
Points International Ltd. is the owner and operator of Points.com, the
world's leading reward program management web site which was recently
named one of the 28 Best Travel Sites by Kiplinger's. At Points.com
consumers can Swap, Earn, Buy, Gift, Share and Redeem miles and points
from more than 25 of the world's leading reward programs. Participating
programs include American Airlines AAdvantage(R) program, Aeroplan(R),
AsiaMiles(TM), British Airways Executive Club, Delta SkyMiles(R) and
InterContinental Hotels Group's Priority Club(R) Rewards. Redemption
partners include Amazon.com(R) and Starbucks. For more information,
SOURCE Points International Ltd.
For further information:
Laura Foster / Andrew Greenebaum