DGAP-News: Indenture Implements Reverse Split and Internet Radio Spin-Off
(firmenpresse) - DGAP-News: Indenture Investments Ltd. / Key word(s): Miscellaneous
Indenture Implements Reverse Split and Internet Radio Spin-Off
17.05.2011 / 14:45
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Indenture Implements Reverse Split and Internet Radio Spin-Off
Indenture Investments Ltd. is implementing the reverse split of its shares
as announced previously. A delay of the cutback procedure was necessary due
to certain technical issues. Effective date of the reverse split is 13th
May 2011. In addition Indenture's subsidiary AE American Enterprises with
internet radio provider SBN has been merged successfully into a publicly
traded company.
Toronto, Canada - May 17, 2011
Indenture Investments Limited ('3IVN' or 'Indenture'), a venture capital
company located in Toronto, Canada, and traded on the Frankfurt Stock
Exchange has successfully finalized the cutback of stock as announced in a
press released 1st March 2011. The reverse split of the shares of
Indenture has been approved by the Province of Ontario as well as CDS
Clearing and Depository Services Inc. of Canada.
The new shares of Indenture have already received the following security
numbers ISIN CA45338D2086 WKN A1JA1G, Symbol: 3IVN. The total of
post-consolidated shares of Indenture Investments Ltd. is 187,907,229 after
reverse split.
Each stockholder of shares of Indenture as of 13th May 2011 will receive 1
new share for 12 old shares as resolved in a shareholders meeting in June
2009. Shares which are held in broker or bank accounts 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.
As announced earlier this year, Indenture has successfully merged its fully
owned subsidiary AE American Enterprises, Inc. including the SBN Internet
radio business, located in Malta, into the Canadian company Underseas
Research&Recovery Ltd., which is traded on the Open Market of the
Frankfurt Stock Exchange. A name change that reflects the business of
internet radio will occur soon. With the completion of this transaction,
Indenture now can show an asset for the internet radio business of
approximately EUR 27 Million of equity value - respectively EUR 0.143 per
post-split share. By the 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 plans to expand 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. With this spin-off, Indenture has accomplished
successfully its first investment project which should lead to a more
reasonable valuation and market capitalization of the Indenture Group in
the future.
Indenture Investments Limited:
Indenture Investments Limited, a Canadian holding company traded on the
Frankfurt Stock Exchange under the symbol '3IVN', 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 Internet Radio Division of AE American Enterprises Inc. (AE) and
S.B.N. SPA Limited (SBN), listed on the Open Market of the Frankfurt
Stock Exchange under the company Underseas Research&Recovery Ltd.
- The non-electronic smokefree cigarette division (licensing,
development, production, marketing, merchandising and sale)
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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17.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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125014 17.05.2011
Datum: 17.05.2011 - 14:45 Uhr
Sprache: Deutsch
News-ID 34122
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Kategorie:
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