Indenture Investments Ltd.
Indenture Implements Reverse Split and Internet Radio Spin-Off
Indenture Investments Ltd. / Key word(s): Miscellaneous Indenture Implements Reverse Split and Internet Radio Spin-Off Indenture Investments Ltd. is implementing the reverse split of its shares as announced previously. A delay of the cutback procedure was necessary due to certain technical issues. Effective date of the reverse split is 13th May 2011. In addition Indenture’s subsidiary AE American Enterprises with internet radio provider SBN has been merged successfully into a publicly traded company. Toronto, Canada – May 17, 2011 Indenture Investments Limited (‘3IVN’ or ‘Indenture’), a venture capital company located in Toronto, Canada, and traded on the Frankfurt Stock Exchange has successfully finalized the cutback of stock as announced in a press released 1st March 2011. The reverse split of the shares of Indenture has been approved by the Province of Ontario as well as CDS Clearing and Depository Services Inc. of Canada. Each stockholder of shares of Indenture as of 13th May 2011 will receive 1 new share for 12 old shares as resolved in a shareholders meeting in June 2009. Shares which are held in broker or bank accounts will get replaced automatically. Shareholders of Indenture who hold their shares in form of physical certificates are requested to send their certificates for a conversion directly to Heritage Transfer Agency Inc., 4 King Street West, Toronto, ONT, M5H 1B6, the company’s Transfer Agent. Indenture wants to underline that only the appointed corporate Transfer Agent is allowed to conduct this replacement of certificates. A processing fee of 20 Canadian Dollar per certificate is required payable directly to Heritage Transfer Agency, Inc. As announced earlier this year, Indenture has successfully merged its fully owned subsidiary AE American Enterprises, Inc. including the SBN Internet radio business, located in Malta, into the Canadian company Underseas Research & Recovery Ltd., which is traded on the Open Market of the Frankfurt Stock Exchange. A name change that reflects the business of internet radio will occur soon. With the completion of this transaction, Indenture now can show an asset for the internet radio business of approximately EUR 27 Million of equity value – respectively EUR 0.143 per post-split share. By the independent listing of SBN, Indenture expects to get a better perception and understanding of the values and the growth potential of the internet radio. SBN plans to expand its internet radio services into satellite broadcasting within the next three years in order to cover a population of up to 700 Million people in Europe, the Mediterranean and Russia. With this spin-off, Indenture has accomplished successfully its first investment project which should lead to a more reasonable valuation and market capitalization of the Indenture Group in the future. Indenture Investments Limited: Currently the Indenture Group consists of two divisions: – The Internet Radio Division of AE American Enterprises Inc. (AE) and S.B.N. SPA Limited (SBN), listed on the Open Market of the Frankfurt Stock Exchange under the company Underseas Research & Recovery Ltd. – The non-electronic smokefree cigarette division (licensing, development, production, marketing, merchandising and sale) Contact: Forward-Looking Statements: End of Corporate News 17.05.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
125014 17.05.2011 |