CyberCatch Announces Effective Date of Share Consolidation
Rhea-AI Summary
CyberCatch Holdings, Inc. (TSXV: CYBE) has announced a share consolidation effective July 30, 2024. The consolidation will be on a 10:1 basis, meaning every ten pre-consolidated shares will be converted into one post-consolidated share. This move aims to transform the company's capital structure, attract additional financing, and position CyberCatch for growth and increased shareholder value.
Post-consolidation, the total issued and outstanding shares will be approximately 5,692,165, subject to rounding for fractional shares. The company's name will remain unchanged, but new CUSIP and ISIN numbers will be assigned. Registered shareholders holding physical share certificates will receive instructions for exchanging their certificates, while those holding shares through brokers won't need to take action.
Positive
- Share consolidation aims to attract additional financing
- Consolidation positions the company for growth and potential shareholder value increase
- Total issued and outstanding shares will be reduced to approximately 5,692,165
Negative
- Shareholders will own fewer shares post-consolidation
- Potential short-term market volatility due to share structure change
News Market Reaction 1 Alert
On the day this news was published, CYBHF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - July 26, 2024) - CyberCatch Holdings, Inc.(TSXV: CYBE) ("CyberCatch'' or the "Company"), an innovative cybersecurity company offering an AI-enabled platform solution for continuous compliance and cyber risk mitigation, announces that the Company will implement the consolidation of its common shares in the capital of the Company (the "Shares") on the basis of ten (10) pre-consolidated Shares for every one (1) post-consolidated Share (the "Consolidation") effective as of July 30, 2024.
The Consolidation is to transform the capital structure of the Company, attract additional financing and position the Company for growth and shareholder value increase.
The Company name will remain unchanged after the Consolidation. The new CUSIP number will be 23250C201 and the new ISIN number will be CA23250C2013 for the post-Consolidation Shares.
The total issued and outstanding number of Shares post-Consolidation will be approximately 5,692,165, subject to rounding for fractional Shares.
No fractional Shares will be issued in connection with the Consolidation. In the event a holder of Shares would otherwise be entitled to receive a fractional Share in connection with the Consolidation, the fractional Share will be cancelled if it is less than one-half (1/2) of a Share, and will be changed to one whole Share if that fractional Share is equal to or greater than one-half (1/2) of a Share.
Registered shareholders who hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company's transfer agent, Computershare Investor Services Inc. in exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.
About CyberCatch
CyberCatch Holdings, Inc. (TSXV: CYBE) provides a proprietary, AI-enabled Software-as-a-Service (SaaS) solution that provides continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Investor Relations
Phone: 1-866-753-2923
Email: info@cybercatch.com
SOURCE CyberCatch
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217784
FAQ
When will CyberCatch Holdings (CYBHF) implement its share consolidation?
What is the ratio of CyberCatch Holdings' (CYBHF) share consolidation?
How many shares of CyberCatch Holdings (CYBHF) will be outstanding after the consolidation?
Will CyberCatch Holdings' (CYBHF) name change after the share consolidation?
