The $400 million share repurchase authorization is designed to address the additional
common shares PMI will issue on November 15, 2006 under the terms of its 5.
The forward counterparty is initially selling 6,800,000
common shares (or 7,720,000
common shares if the underwriter exercises its over allotment option in full) in a public offering at $15.
collectively, the "Drake Group") own and control 484,650
common shares of Innova representing approximately 1.
The Company believes that setting the conversion rate will discourage continuing naked short sales of its
common shares with limited dilution of common equity to those shareholders that bought on or after the ex-dividend date of March 15, 2006.
After completion of the Amalgamation, holders of Lonsdale
Common Shares will hold 6,532,662 Amalco
Common Shares.
Acquireco"), a private non-arm's length company controlled by certain officers of Direct IT, in consideration for the assumption of all liabilities of the existing business and operations of Direct IT plus 1,020,000
common shares of Direct IT.
Furthermore, the Corporation has agreed to pay a fee of $5,005 and issue non-transferable compensation options to purchase 12,833
common shares at a price of $0,39 per share for a period of two years of the closing to another dealer in relation with the private placement.
The Debenture Units are convertible into Icefloe
common shares at any time, at the option of the Debenture holder, at a conversion price of $0.
The Corporation completed its initial public offering of 3,750,000
Common Shares on June 29, 2005, at a price of $0.
Debentures holder will receive about nine (9)
common shares of the Company for each one (1) dollar in principal amount and accrued interest of debentures owned.
If YMG converted all of these Debentures it would beneficially own, directly or indirectly, or exercise control or direction over 1,450,596
common shares of Icefloe or approximately 13.
70 per flow through share, 1,000
common shares at the price of $0.
SelectComm") whereby Ribbon has agreed to acquire all of the issued and outstanding shares of Local Fone and SelectComm (collectively, the "Companies") in exchange for the issuance of an aggregate of 40,000,000
common shares in the capital of Ribbon at a value of $0.
Under the terms of the letter agreement, Newco completed a private placement on December 21, 2005 of 15,000,000 Newco
common shares (the "Newco
Common Shares") at $0.
As additional consideration Desjardins Securities will receive broker's warrants, representing 10% of the total number of
common shares comprised in the subscribed Units A and Units B, each broker's warrant entitling it to acquire one Unit A at the price of $0.