Mount Logan Capital Inc. Completes Share Consolidation
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 www.sedar.com. 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 www.sedar.com.About Mount Logan Capital Inc.