Winalta Shareholders Approve Reduction of Stated Capital
20 Mars 2012 - 12:01PM
PR Newswire (Canada)
CALGARY, March 20, 2012 /CNW/ - Winalta Inc. ("Winalta" or the
"Company") is pleased to announce that at a special meeting of
shareholders of the Company held today, the shareholders approved a
special resolution reducing the stated capital account for
Winalta's Class A common Shares by an amount of $37,170,162
effective as at March 31, 2012. The $37,170,162 reduction reflects
the amount of the Company's stated capital that is not represented
by its realizable assets. The reduction of stated capital will be
credited against the consolidated accumulated deficit of the
Company. The reduction of stated capital will not otherwise affect
the assets or liabilities of the Company. The reduction of
stated capital will not result in any monetary or other payment to
shareholders. It will not change the amount of shareholder's
equity, but solely its composition. Management of Winalta believes
that the reduction of stated capital will allow the Company's
balance sheet to more accurately reflect the assets, operations and
strategic focus of Winalta. The reduction of stated capital
and reduction of the deficit will have no impact on the day-to-day
operations of the Company, or the Company's overall financial
position. Winalta Inc., operating under the trade name, Winalta
Oilfield Rentals, is an oilfield service provider that specializes
in portable industrial rental accommodations, remote offices and
Dedicated Geo Labs; servicing the Western Canadian oil and gas
Industry. 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. Forward-looking information Certain
information set forth in this press release, including the timing
of the implementation of the Company's reduction of its stated
capital may constitute forward-looking statements. By their nature,
forward-looking statements involve material assumptions and are
subject to numerous risks and uncertainties, including with respect
to market and economic conditions and their impact on the Company's
business, some of which, are beyond the Company's control. Readers
are cautioned not to place undue reliance on the forward-looking
statements as the assumptions used in the preparation of such
information, although considered reasonable at the time of
preparation, may prove to be imprecise and actual results,
performance or outcomes could materially differ from those
expressed or implied in such forward-looking statements and
accordingly, no assurance can be given that any of the events
anticipated by forward looking statements will transpire or occur,
or if any of them do so, what benefit Winalta will derive there
from. The Company does not assume the obligation to revise or
update this forward-looking information after the date of this
release or to revise such information to reflect the occurrence of
future unanticipated events, except as may be required under
applicable securities laws. Winalta Inc. CONTACT: David Hopley,
CFOPhone: (780) 960-6900Austin Fraser, Senior Vice PresidentPhone:
(403) 826-5701winalta@winaltainc.com
Copyright
(TSXV:WTA)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
(TSXV:WTA)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
Real-Time news about (TSX Venture Exchange): 0 recent articles
Plus d'articles sur Winalta