TORONTO, Dec. 19, 2016 /CNW/ - Pivot Technology Solutions,
Inc. (TSX: PTG), a full-service information technology provider,
today announced that it has successfully met the conditions set by
the Toronto Stock Exchange (TSX) to graduate to the TSX.
Accordingly, Pivot's common shares begin trading on the TSX under
the symbol PTG today (Monday, December 19,
2016) and were delisted from the TSX-V (effective
Friday, December 16, 2016).
"The TSX is Canada's premier
stock exchange enabling commerce between national and international
investors and publicly traded companies," said Kevin Shank, President and Chief Executive
Officer. "We're very proud to be joining this exchange at a time
when Pivot is embarking on a new and exciting phase of value
creation that we wish to share broadly with more investors."
Concurrently with the TSX graduation, the Company has
consolidated its common shares on the basis of four (4)
pre-consolidation common shares for one (1) post-consolidation
common share (the Share Consolidation) as approved by Pivot
shareholders at the Company's Annual General and Special Meeting on
June 21, 2016. As a result, Pivot now
has 41,562,283 common shares issued and outstanding.
In the event that the Share Consolidation would otherwise result
in the issuance to any shareholder of a fractional
post-consolidation share, no fractional post-consolidation share
shall be issued and the number of post-consolidation shares
issuable to such shareholder shall be (i) rounded down to the
nearest whole number if the fraction is less than one-half (0.5) of
a post-consolidation share, or (ii) rounded up to the nearest whole
number if the fraction is one-half (0.5) or greater.
Pivot shareholders who currently hold physical shares, the
Company's transfer agent, Computershare Investor Services Inc.
(Computershare), will send a letter of transmittal providing
instructions to surrender the certificates evidencing their
pre-consolidation shares and receive a DRS Advice from
Computershare, confirming the registration in the Direct
Registration System (DRS) of the number of post-consolidation
shares to which they are entitled as a result of the Share
Consolidation. In the meantime, shareholders are advised not to
destroy the old certificates as these certificates will be deemed
to represent the number of post-consolidation shares to which the
holder of that certificate is entitled as a result of the Share
Consolidation. For shareholders who currently hold their shares in
brokerage accounts, your broker will automatically update
shareholder accounts to reflect the appropriate post-consolidation
balances.
About Pivot Technology Solutions
Pivot is a leading information technology infrastructure and
services provider to approximately 2,000 customers, including many
members of the Fortune 500. Founded in 2010, Pivot enjoys
relationships with the world's leading IT vendors and generates
annual revenues of approximately US$1.5
billion. With over 875 employees and offices
throughout North America, Pivot
uses its knowledge and local presence to help corporations,
governments and educational institutions design, build, implement
and maintain advanced computing and communication infrastructure.
For more information, visit www.pivotts.com.
SOURCE Pivot Technology Solutions, Inc