TEXADA Software Inc. to Continue to Ontario and Consolidate Its Outstanding Common Shares
31 October 2008 - 9:39AM
Marketwired
TEXADA SOFTWARE INC. (TSX VENTURE: TXS) ("Texada" or the "Company")
announces that it intends to continue to Ontario (the
"Continuance") from British Columbia and consolidate its
outstanding common shares on the basis of one (1) new common share
for every ten old common shares (the "Consolidation").
Currently, the Company has 87,673,495 common shares issued and
outstanding. After giving effect to the Consolidation, it expects
to have approximately 8,767,350 common shares issued and
outstanding. The Company expects to complete the Continuance
immediately prior to the Consolidation. Management believes that
the Consolidation is necessary to provide the Company with an
outstanding share capital number that will better attract capital
financing and that will provide future growth opportunities for
shareholders on their investment.
Texada received the approval of its shareholders to effect the
Continuance and Consolidation at its annual and special meeting
held on July 15, 2008.
The board of directors of the Company has approved the
Continuance and Consolidation. Completion of the Continuance and
Consolidation is subject to approval by the TSX Venture Exchange
and the receipt of any required regulatory approvals.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended or any
state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless an exemption from such
registration is available.
About Texada
Texada Software Inc. is the premier provider of enterprise
software solutions for mobile equipment and rental management.
Texada's solutions are fully flexible and scalable to meet the
unique needs of any sized operation and are backed by proven
implementation, services and support.
Texada's market-driven software products combine knowledge and
best practices from over 400 customers worldwide, resulting in
solutions that manage the complete life-cycle from acquisition
through to disposal, Our customers enjoy the benefits of enhanced
efficiency through better asset utilization, effective location
tracking, and optimized scheduling.
Texada can be reached at 1-800-361-1233 or +1-519-836-7073, or
on the internet at www.texadasoftware.com.
FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements based
on management's current projections, beliefs and opinions at the
date of this news release. Actual results could differ materially
from those anticipated in the statements due to risks and
uncertainties which affect the Company's business and operations.
Reference should be made to the Company's continuous disclosure
documents filed from time to time with Canadian securities
regulatory authorities for a detailed description of such risks and
uncertainties. The Company takes no responsibility to update
forward-looking statements if circumstances or management's
projections, beliefs or opinions change other than as required by
applicable laws.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: TEXADA Software Inc. Nigel Miller CEO 1-800-361-1233 x
2120 or (519) 840-2120 Email: nmiller@TEXADAsoftware.com Website:
www.texadasoftware.com
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