Read carefully before you sell........
Premium will be seeking shareholder approval to authorize, and approve the implementation by Premium’s Board of Directors of a consolidation of all of its Common Shares on a ratio of Twenty (20) pre-consolidation Common Shares for every One (1) post-consolidation Common Share (the “Consolidation Ratio“).
Shareholder approval of the Consolidation will authorize Premium’s Board of Directors to determine the Consolidation Ratio and to implement the Consolidation at any time within twelve months of such shareholder approval.
The BOD will determine the ratio, they are not saying for sure it will be 20/1 but they will not have to go back to shareholders if they decide on 10/1 or something else. They are asking for what they feel will be the absolute maximum that will not require another vote. They may not have to do a consolidation but is it not better to have a vote and then move forward when the time is right without any delays?
Have a great day,
