QUEBEC CITY, Sept. 16 /CNW/ - Lyrtech Inc. ("Lyrtech" or the "company")
(TSX-V: LYT), a firm specializing in digital signal processing technologies,
announced that as of September 17, 2008, the company's shares will be
consolidated on a basis of ten (10) old shares for one (1) new share
(henceforth, the "share consolidation"). This share consolidation was approved
by the company's shareholders at the annual general meeting held July 23,
2008. The share consolidation was also approved by the TSX Venture Exchange.
Immediately before the opening of trade on Wednesday, September 17, 2008,
the share consolidation will take effect and the company's trade symbol will
change from "LYT" to "LTK".
Letters of transmittal describing the details of the share consolidation
and the process whereby shareholders can obtain actual share certificates
representing the consolidated common shares were mailed to registered
Lyrtech Inc. common share holders on September 4, 2008. Registered
shareholders can also obtain copies of the letter of transmittal through their
brokers or other intermediaries, or through the company's transfer agent -
Shareholders trading through brokers or other intermediaries who do not
have actual share certificates registered in their names need not complete and
return a letter of transmittal. All pre-consolidation common shares owned by
such shareholders are automatically adjusted through the share consolidation
to reflect the applicable number of post-consolidation common shares that they
own. No action is necessary on their part. Lyrtech does not intend to issue
fractional common shares as a result of the share consolidation-all fractional
shares resulting from the share consolidation will be rounded down to the
nearest whole number.
Lyrtech, a proud member of the Texas Instruments Design House Network,
develops and manufactures advanced digital signal processing solutions for
companies worldwide, a vital technology to network and wireless
communications, audio and video processing, as well as electronic systems in
all fields of technology. Lyrtech offers a full range of DSP-FPGA development
platforms, as well as design, prototyping, and manufacturing of electronic
products. Lyrtech works in partnership with industry leaders such as Texas
Instruments, The MathWorks, and Xilinx. Lyrtech's customers include many
prestigious names of the consumer electronics, telecommunications, aerospace,
and defense fields. For more information, visit www.lyrtech.com.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
For further information:
For further information: Louis Bélanger, president and CEO, Lyrtech
Inc., (418) 877-4644, firstname.lastname@example.org