TRADING SYMBOL: RLX and RLX.A (TSXV)
CALGARY, May 10 /CNW/ - Realex Properties Corp. ("Realex" or the "Corporation") announces that the annual and special meeting of shareholders will be held at the Plaza Room of the Metropolitan Conference Centre, 333-4th Avenue SW, Calgary, Alberta at 10:00 am (Calgary time) on June 2, 2010.
Annual meeting matters to be considered at the meeting consist of: receiving and considering the financial statements for the year ended September 30, 2010; appointment of auditors; fixing the number of directors at ten; and appointing directors.
In addition, shareholders will be asked to consider and approve special matters which include: approving the stock option plan; reorganizing the Corporation's share capital by changing the issued and outstanding Non-Voting Shares into Common Shares on a one (1) Common Share for every one (1) Non-Voting Share basis; consolidating the issued and outstanding Common Shares (and Non-Voting Shares, if applicable) on the basis of one (1) post-consolidation Common Share (or Non-Voting Share, if applicable) for each ten (10) pre-consolidation Common Share (or Non-Voting Share, if applicable); and renewal of the Shareholder Rights Plan of the Corporation. In addition to the required shareholder approval, approval of these special meeting matters will also require the approval of the TSX Venture Exchange.
Realex believes the share capital reorganization and consolidation of shares is in the best interests of the Corporation and shareholders and these initiatives will have several benefits including providing a simpler equity structure, reduced cost of capital and increased liquidity for shares of the Corporation.
These items are described in more detail in the Information Circular being mailed to shareholders which is also available on SEDAR at www.sedar.com and on the Corporations website at www.realexproperties.ca.
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 email@example.com