Trisura Group Ltd. has announced the pricing of its 1-for-10 common share consolidation followed immediately by a 10-to-1 share split.
Shareholders with fewer than 10 common shares as of the close of business Dec. 20 will be entitled to receive a cash payment in exchange for their shares equal to about C$26.04 per share. The cash proceeds are based on the average trading price of the shares on the Toronto Stock Exchange during the 10 consecutive trading days ending on and including Dec. 20.
Trisura will deposit the cash proceeds with AST Trust Co., its transfer agent, on or before Dec. 29.
The shares began trading on a post-consolidation and split basis on the Toronto Stock Exchange on Dec. 21.