CALGARY, May 6, 2016 /CNW/ - SMART Technologies Inc.
(NASDAQ: SMT) (TSX: SMA) ("SMART" or the "Company"), a leading
provider of education and business collaboration solutions,
announces that, further to its press release dated April 28, 2016, the Company has filed Articles of
Amendment effecting the consolidation of its common shares ("Common
Shares") on the basis of one post-consolidation Common Share for
every ten pre-consolidation Common Shares (the
"Consolidation").
The Consolidation was approved by the holders of Common Shares
("Shareholders") by special resolution at the Company's special
meeting of the Shareholders on April 28,
2016. SMART's board of directors subsequently approved the
filing of the Articles of Amendment to effect the Consolidation.
The Company filed the Articles of Amendment today, and it is
expected that the Common Shares will commence trading on the
Toronto Stock Exchange ("TSX") and the NASDAQ Stock Market
("NASDAQ") on a post-Consolidation basis on or around May 12, 2016, subject to final approval of the
TSX and NASDAQ. As a result of the Consolidation, SMART has
approximately 12.2 million Common Shares outstanding.
No fractional Common Shares will be issued in connection with
the Consolidation, and in the event a holder of pre-Consolidation
Common Shares would otherwise be entitled to receive a fraction of
a post- Consolidation Common Share, the number of
post-Consolidation Common Shares to which such holder is entitled
will instead be rounded to the nearest whole number of
post-Consolidation Common Shares.
Letters of transmittal with respect to the Consolidation have
been mailed to all registered Shareholders. All registered
Shareholders who submit a duly completed letter of transmittal
along with their respective share certificate(s) representing
pre-Consolidation Common Shares to the Corporation's transfer
agent, Computershare Trust Company of Canada ("Computershare"), will receive share
certificates representing their post-Consolidation Common Shares.
Until so surrendered, each share certificate representing
pre-Consolidation Common Shares will represent the number of whole
post-Consolidation Common Shares to which the holder is entitled as
a result of the Consolidation. Shareholders holding their Common
Shares through a bank, broker or other nominee should note that
banks, brokers or other nominees may have different procedures for
processing the Consolidation than those put in place by the Company
and Computershare. Such Shareholders will not be required to
complete a letter of transmittal.
Further details regarding the Consolidation are contained in the
Company's management information circular dated March 16, 2016 which has been filed on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov.
About SMART
SMART Technologies Inc. (NASDAQ: SMT, TSX:
SMA) is a world leader in simple and intuitive solutions that
enable more natural collaboration. We are an innovator in
interactive touch technologies and software that inspire
collaboration in both education and business around the globe. To
learn more, visit smarttech.com.
SMT – F
Reader's advisory
Certain information contained in
this press release may constitute forward-looking information
including, without limitation, the expected timing of trading the
Common Shares on a post-Consolidation basis on the TSX and the
NASDAQ. By their very nature, forward-looking information and
statements involve inherent risks and uncertainties, both general
and specific, and risks that predictions, forecasts, projections
and other forward-looking information and statements will not be
achieved. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual
results to vary materially from the forward-looking information or
statements. We do not assume responsibility for the accuracy and
completeness of the forward-looking information or statements. Any
forward-looking information and statements contained in this press
release are expressly qualified by this cautionary
statement.
©2016 SMART Technologies Inc. All third-party product and
company names are for identification purposes only and may be
trademarks of their respective owners. To view a list of SMART
trademarks please visit our Trademarks and Guidelines
page.
Please note that SMART is written in all capital
letters.
SOURCE SMART Technologies Inc.