World News: 12:00 GMT Tuesday 3rd December 2019. [Mount Logan Capital Inc. via Globe Newswire via SPi World News]
TORONTO, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan,” “our,” “we,” or the “Company”) announces that it has completed its previously announced consolidation of the issued and outstanding common shares of the Company on the basis of one (1) post-consolidation share for every eight (8) pre-consolidation shares (the “Consolidation”). The common shares will commence trading on a consolidated basis on the facilities of the NEO Exchange Inc. effective at the opening of trading today and will continue to trade under the symbol “MLC”.
Upon completion of the Consolidation, the Company has approximately 10,604,998 common shares outstanding. No fractional shares were issued in connection with the Consolidation and, in the event that a shareholder would otherwise have been entitled to receive a fraction of a common share in connection with the Consolidation, such fraction was rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. The new CUSIP in respect of the consolidated common shares is 621886209.
Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc., providing instructions regarding how to exchange their pre-Consolidation common shares (represented either by Direct Registration System (DRS) advice statements or share certificates) for new DRS advice statements representing post-Consolidation common shares to which they are entitled as a result of the Consolidation. The letter of transmittal will also be available under the Company’s SEDAR profile at . No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) in connection with the Consolidation.
The exercise price and number of common shares of the Company issuable upon the exercise of the outstanding warrants of the Company will be proportionately adjusted to reflect the Consolidation.
For additional details regarding the Consolidation, please see the Company’s management information circular dated April 29, 2019 which is available under the Company’s SEDAR profile at .
Mount Logan Capital Inc. is a Canada-based asset manager created to source and execute on credit investment opportunities in North America. The Company holds and actively manages and monitors a portfolio of loans and other investments with credit-oriented characteristics. The Company intends to actively source, evaluate, underwrite, monitor, and primarily invest in additional loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.
This press release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities in the Company or in any fund or other investment vehicle.
For additional information, contact:
Ted GilpinChief Financial Officer(212) 891-5007
Mount Logan Capital Inc.365 Bay Street, Suite 800Toronto, ON M5H 2V1
Globe Newswire: 12:00 GMT Tuesday 3rd December 2019
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