Indenture Investments Ltd.
Indenture Investments Ltd.: Indenture to Complete SBN Radio Spin-Off and Progresses with Corporate Restructuring
Indenture Investments Ltd. / Key word(s): IPO Indenture to Complete SBN Radio Spin-Off and Progresses with Corporate Restructuring Indenture signed LOI for Going Public of its subsidiary SBN Satellite Broadcast Network on the Frankfurt Stock Exchange. Corporate restructuring of Indenture to comply with new regulations of Open Market nearly accomplished. Cut-back of stock and change in management in preparation. Toronto, Canada – February 28, 2011 Indenture Investments Limited (‘3IV’ or ‘Indenture’), a venture capital company located in Toronto, Canada, and traded on the Frankfurt Stock Exchange has signed a LOI to merge its subsidiary SBN SPA Ltd. into a company listed in the Open Market segment of the Frankfurt Stock Exchange. By an 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 is expanding 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. After a successful conclusion of the merger, Indenture anticipates an opening market valuation of its internet radio division between 20 and 25 Million Euro. Indenture will remain majority shareholder of the independently listed SBN corporation. With this spin-off, Indenture will have accomplished successfully its first investment project which should lead to a more reasonable valuation and market capitalization of the Indenture Group. Following the new regulations for companies listed on the Open Market of the Frankfurt Stock exchange, Indenture has initiated a corporate restructuring including a cut-back of stock by one for twelve, an increase of equity capital per share as well as a change in management. The cut-back which already had been approved by shareholders will now be transacted with effective date March 15th, 2011. The shares of Indenture will receive a new cusip number and ISIN. Shares which are held in a broker or bank account 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.. Due to several request over the last weeks Indenture wants to straighten out that the company has not made any public share sales or other fund raising activities during the last months. Any share sales by Indenture would have led to a rigorous share dilution for shareholders which management wanted to avoid. The depressed stock price has caused severe financial difficulties for Indenture and its business divisions. With a successful spin-off Indenture hopes to generate sufficient funds in order to finance investments particularly for its smokefree cigarette division. Indenture Investments Limited: Currently the Indenture Group consists of two divisions: – The non-electronic smokefree cigarette division (licensing, development, production, marketing, merchandising and sale) – The Internet Radio Division of AE American Enterprises Inc. (AE) and S.B.N. SPA Limited (SBN) Contact: Contact: Mr. Lawrence Skolnik +1 416 410 3995 Forward-Looking Statements: End of Corporate News 01.03.2011 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 |
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