DGAP-News: Indenture Investments Ltd.: Indenture to Complete SBN Radio Spin-Off and Progresses with Corporate Restructuring
(firmenpresse) - DGAP-News: Indenture Investments Ltd. / Key word(s): IPO
Indenture Investments Ltd.: Indenture to Complete SBN Radio Spin-Off
and Progresses with Corporate Restructuring
01.03.2011 / 08:00
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Indenture to Complete SBN Radio Spin-Off and Progresses with Corporate
Restructuring
Indenture signed LOI for Going Public of its subsidiary SBN Satellite
Broadcast Network on the Frankfurt Stock Exchange. Corporate restructuring
of Indenture to comply with new regulations of Open Market nearly
accomplished. Cut-back of stock and change in management in preparation.
Toronto, Canada - February 28, 2011
Indenture Investments Limited ('3IV' or 'Indenture'), a venture capital
company located in Toronto, Canada, and traded on the Frankfurt Stock
Exchange has signed a LOI to merge its subsidiary SBN SPA Ltd. into a
company listed in the Open Market segment of the Frankfurt Stock Exchange.
By an independent listing of SBN, Indenture expects to get a better
perception and understanding of the values and the growth potential of the
internet radio. SBN is expanding its internet radio services into satellite
broadcasting within the next three years in order to cover a population of
up to 700 Million people in Europe, the Mediterranean and Russia. After a
successful conclusion of the merger, Indenture anticipates an opening
market valuation of its internet radio division between 20 and 25 Million
Euro. Indenture will remain majority shareholder of the independently
listed SBN corporation. With this spin-off, Indenture will have
accomplished successfully its first investment project which should lead to
a more reasonable valuation and market capitalization of the Indenture
Group.
Following the new regulations for companies listed on the Open Market of
the Frankfurt Stock exchange, Indenture has initiated a corporate
restructuring including a cut-back of stock by one for twelve, an increase
of equity capital per share as well as a change in management. The cut-back
which already had been approved by shareholders will now be transacted with
effective date March 15th, 2011. The shares of Indenture will receive a new
cusip number and ISIN. Shares which are held in a broker or bank account
will get replaced automatically. Shareholders of Indenture who hold their
shares in form of physical certificates are requested to send their
certificates for a conversion directly to Heritage Transfer Agency Inc., 4
King Street West, Toronto, ONT, M5H 1B6, the company's Transfer Agent.
Indenture wants to underline that only the appointed corporate Transfer
Agent is allowed to conduct this replacement of certificates. A processing
fee of 20 Canadian Dollar per certificate is required payable directly to
Heritage Transfer Agency Inc..
Due to several request over the last weeks Indenture wants to straighten
out that the company has not made any public share sales or other fund
raising activities during the last months. Any share sales by Indenture
would have led to a rigorous share dilution for shareholders which
management wanted to avoid. The depressed stock price has caused severe
financial difficulties for Indenture and its business divisions. With a
successful spin-off Indenture hopes to generate sufficient funds in order
to finance investments particularly for its smokefree cigarettedivision.
Indenture Investments Limited:
Indenture Investments Limited, a Canadian holding company traded on the
Frankfurt Stock Exchange under the symbol '3IV', is a business incubator
company. The objective of the company is to acquire innovative and
sustainable business ideas, projects or companies and support their
development. The support by Indenture will include marketing, funding,
project and corporate structuring. Once developed, Indenture will also seek
to provide an exit by a sale to an interested third party or independently
listing it on an appropriate stock exchange.
Currently the Indenture Group consists of two divisions:
- The non-electronic smokefree cigarette division (licensing,
development, production, marketing, merchandising and sale)
- The Internet Radio Division of AE American Enterprises Inc. (AE) and
S.B.N. SPA Limited (SBN)
Contact:
info(at)indenture-group.info
www.indenture-group.info
Contact: Mr. Lawrence Skolnik +1 416 410 3995
Forward-Looking Statements:
Any statements contained in this document that are not historical facts are
forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,'
'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,'
'predict,' 'should' and 'will' and similar expressions as they relate to
Indenture Investments Limited are intended to identify such forward-looking
statements. Indenture Investments Limited undertakes no obligation to
publicly update or revise any forward-looking statements. All
forward-looking statements are subject to various risks and uncertainties
that could cause actual results to differ materially from expectations.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates. Although we believe that
the beliefs, plans, expectations and intentions contained in such
statements are reasonable, there can be no assurance that such beliefs,
plans, expectations or intentions will prove to be accurate. This or any
other statement from the company or its representatives does not constitute
an offer or a solicitation of an offer for the purchase or sale of any
shares or other securities of Indenture Investments Limited. There are
substantial risks associated with investing in development stage companies.
Potential investors should seek advice from a qualified financial dealer
prior to investing in Indenture Investments Limited.
End of Corporate News
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01.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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113778 01.03.2011
Datum: 01.03.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 33332
Anzahl Zeichen: 0
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Kategorie:
Business News
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