Etrion has applied for delisting of its shares from TSX and intends to apply for delisting of its shares from Nasdaq Stockholm
01 Septembre 2021 - 2:05PM
Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX:
ETX) announces that further to the recent sale of substantially all
of the Company’s assets and the return of capital to shareholders
that was completed on August 24, 2021, and in order to minimize the
costs and management time associated with the listing of the
Corporation’s common shares (the “
Common Shares”)
on the Toronto Stock Exchange (the “
TSX”) and
Nasdaq Stockholm (“
Nasdaq”) pending a
determination of whether the Company should pursue an alternative
business or an orderly dissolution and winding-up of the Company,
the Company has applied to voluntarily delist the Common Shares
from the TSX. Such delisting will become effective after the close
of trading on September 17, 2021.
The Company also intends to apply to delist from
Nasdaq. In accordance with good Swedish market practice, the formal
application for delisting will be submitted to Nasdaq no earlier
than three months after the market has been informed of the
delisting plans through this press release. Such process is
intended to provide shareholders with a reasonable time to sell
their Common Shares or otherwise act on the basis of the
information. In accordance with the TSX Company Manual, the TSX
does not require shareholder approval of the voluntary delisting of
the Common Shares from the TSX as an acceptable alternative market
will exist for the Common Shares on the date of delisting.
Shareholders holding Common Shares in Canadian brokerage accounts
should contact their brokers to confirm how to trade such shares on
Nasdaq following delisting from the TSX.
The ownership of the Common Shares will not be
affected by a delisting, and shareholders will maintain their
shareholders´ rights under applicable corporate law and the
Company’s constating documents.
About Etrion
The Company is listed on the Toronto Stock
Exchange in Canada and the Nasdaq Stockholm exchange in Sweden
under ticker symbol “ETX”. Etrion’s largest shareholder is the
Lundin family, which owns approximately 36% of the Company’s shares
directly and through various trusts.
For additional information, please visit the
Company’s website at www.etrion.com or contact:
Christian Lacueva – Chief Financial Officer
Telephone: +41 22 715 20 90This information is information that
Etrion Corporation is obliged to make public pursuant to the EU
Market Abuse Regulation. The information was submitted for
publication at 14:05 CET on September 1, 2021.
Forward-Looking Information: This press release
contains certain “forward-looking information”. All statements,
other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without
limitation, statements relating to the possibility of acquiring or
commencing an alternative business, the possible dissolution and
winding-up of the Company and the delisting of the Common Shares
from the TSX and Nasdaq Stockholm) constitute forward-looking
information. This forward-looking information reflects the current
expectations or beliefs of the Company based on information
currently available to the Company as well as certain assumptions
including, without limitation, the timing of the delisting from
Nasdaq. Forward-looking information is subject to a number of
significant risks and uncertainties and other factors that may
cause the actual results of the Company to differ materially from
those discussed in the forward-looking information, and even if
such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences
to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations
include, but are not limited to, the risk that the Company may not
be successful in acquiring or commencing an alternative business
and delisting from Nasdaq may take longer than anticipated.
Any forward-looking information speaks only as
of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
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