Coventry Resources Announces Amendments to Information Circular and Proxy Statement
17 January 2014 - 12:45AM
Marketwired
Coventry Resources Announces Amendments to Information Circular and
Proxy Statement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 16, 2014) -
Coventry Resources Inc. (ASX:CYY)(TSX-VENTURE:CYY) announces the
following amendments to its Information Circular and Proxy
Statement dated December 17, 2013 (the "Information Circular") for
its Special Meeting scheduled to be held on January 21, 2014.
The information on page 20 of the Information Circular under the
heading "Treatment of Coventry Warrants" is deleted in its entirety
and replaced with the following:
"Treatment of Coventry Warrants
Pursuant to section 2.15(c) of the Coventry Warrant Indenture,
the exercise price of the Coventry Warrants and the exchange rate
of the Coventry Warrants (being the number of Coventry Shares
subject to the right of purchase under each Coventry Warrant), will
be adjusted as a result of the Arrangement. The exercise price will
be adjusted in accordance with the following formula:
|
|
|
|
Number of Coventry Shares Outstanding On Distribution Record
Date |
x |
|
Current Market Price of Coventry Shares on Distribution Record
Date |
- |
|
Aggregate Fair Market Value of Consideration Shares
Distributed |
|
|
|
|
Exercise price of Coventry Warrants |
x |
|
|
= |
|
New Exercise Price of Coventry Warrants |
|
|
|
|
Number of Coventry Shares Outstanding On Distribution Record
Date |
x |
|
Current Market Price of Coventry Shares on Distribution Record
Date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The exchange rate will be adjusted in accordance with the
following formula:
|
1 |
x |
Exercise Price Prior to Adjustment |
= |
New Exchange Rate" |
|
|
|
Adjusted Exercise Price" |
|
|
The information on page 50 of the Information Circular under the
heading "Treatment of Coventry Warrants" is deleted in its entirety
and replaced with the following:
"Treatment of Coventry Warrants
Pursuant to section 2.15(c) of the Coventry Warrant Indenture,
the exercise price of the Coventry Warrants and the exchange rate
of the Coventry Warrants (being the number of Coventry Shares
subject to the right of purchase under each Coventry Warrant), will
be adjusted as a result of the Arrangement. The exercise price will
be adjusted in accordance with the following formula:
|
|
|
|
Number of Coventry Shares Outstanding On Distribution Record
Date |
x |
|
Current Market Price of Coventry Shares on Distribution Record
Date |
- |
|
Aggregate Fair Market Value of Consideration Shares
Distributed |
|
|
|
|
Exercise price of Coventry Warrants |
x |
|
|
= |
|
New Exercise Price of Coventry Warrants |
|
|
|
|
Number of Coventry Shares Outstanding On Distribution Record
Date |
x |
|
Current Market Price of Coventry Shares on Distribution Record
Date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The exchange rate will be adjusted in accordance with the
following formula:
|
1 |
x |
Exercise Price Prior to Adjustment |
= |
New Exchange Rate" |
|
|
Adjusted Exercise Price" |
|
|
|
|
|
|
|
THE BOARD OF DIRECTORS |
|
OF COVENTRY RESOURCES INC. |
|
|
STEVEN CHADWICK |
|
President and Chief Executive Officer |
|
Coventry Resources Inc. |
Neither 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. This press release may contain
forward-looking statements, which reflect the Company's current
expectation regarding future events. These forward-looking
statements involve risks and uncertainties that may cause actual
results, events or developments to be materially different from any
future results, events or developments expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to, changing market conditions, the successful and timely
completion of clinical studies, the establishment of corporate
alliances, the impact of competitive products and pricing, new
product development, uncertainties related to the regulatory
approval process and other risks detailed from time to time in the
Corporation's ongoing quarterly and annual reporting. We undertake
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Steven Chadwick, President and CEO Coventry ResourcesTelephone
(W): +61 8 9324 1266
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