TORONTO, Jan. 31 /PRNewswire/ - Points
International Ltd. (TSX: PTS; OTCBB: PTSEF), the owner and operator
of Points.com, the world's leading reward program management web
site, today announced the completion of its previously announced
share consolidation of its common shares through a one-for-ten
reverse split. Points International's common stock will begin
trading on a split adjusted basis on the Toronto Stock Exchange
("TSX") and the Over-the-Counter Bulletin Board Market ("OTCBB")
when the market opens on February 2, 2011. As such, the last
pre-consolidation trading day will be tomorrow, February 1, 2011.
Following the consolidation, the Company's shares will continue to
trade under the symbol "PTS" on the TSX and temporarily under the
symbol "PTSED" on the OTCBB.
Pursuant to the reverse stock split, shareholders will receive
one new common share for every ten shares held. No fractional
shares will be issued as a result of the share consolidation, and
in the event that a shareholder would otherwise be entitled to
receive a fractional share, such fraction will be rounded down to
the nearest whole number. The share consolidation reduced the
Company's issued and outstanding shares of common stock to
approximately 15.0 million.
Stockholders of record will receive a letter of transmittal
providing instructions for the exchange of their shares as soon as
practicable. Shareholders with shares in brokerage accounts will be
contacted by their brokers with instructions. Computershare Trust
Company of Canada is acting as the Company's transfer agent, and
can be contacted at (800) 564-6253 with any questions.
About Points International Ltd
Points International Ltd. is the owner and operator of
Points.com, the world's leading reward program management web site
which was recently named one of the 28 Best Travel Sites by
Kiplinger's. At Points.com consumers can Swap, Earn, Buy, Gift,
Share and Redeem miles and points from more than 25 of the world's
leading reward programs. Participating programs include American
Airlines AAdvantage(R) program, Aeroplan(R), AsiaMiles(TM), British
Airways Executive Club, Delta SkyMiles(R) and InterContinental
Hotels Group's Priority Club(R) Rewards. Redemption partners
include Amazon.com(R) and Starbucks. For more information, visit
www.pointsinternational.com.
SOURCE Points International Ltd.
Copyright . 31 PR Newswire