FLYHT Clarifies Proposed Share Consolidation for Consideration at the Annual General Meeting on June 24, 2014
June 09 2014 - 6:07AM
Marketwired
FLYHT Clarifies Proposed Share Consolidation for Consideration at
the Annual General Meeting on June 24, 2014
CALGARY, ALBERTA--(Marketwired - Jun 9, 2014) - FLYHT Aerospace
Solutions Ltd. (TSX-VENTURE:FLY) (the "Company" or "FLYHT") would
like to provide some additional commentary in relation to the
information provided in the Company's annual information circular
dated May 23, 2014 (the "Circular"). The Company has received
numerous questions from shareholders regarding the proposed
shareholders resolution to consolidate shares of the Company as
included in the Circular and therefore wishes to clarify its
position on this proposed resolution.
It is not the Company's intent to immediately undertake and
complete a share consolidation, nor is it a forgone conclusion that
it will ever be completed. FLYHT has been exploring various means
to facilitate additional interest in the Company to a broader rank
of investors, including both institutional and retail investors.
The listing of the Company's shares on exchanges other than the
current TSX Venture Exchange is one possible step to accomplish
that goal. Such other exchanges may have numerous listing
requirements and in order for FLYHT to qualify to list its common
shares on these exchanges a share consolidation may be required.
The share consolidation would require shareholder approval (thus a
shareholder meeting would be required), which is a costly and
time-consuming process. Management of the Company decided it
prudent to include the necessary shareholders resolution at the
upcoming annual shareholders meeting on June 24, 2014 so if future
circumstances were such that the Company thought it was the correct
time to graduate and/or list on another exchange, such action could
be taken in a timely fashion without the requirement to host an
additional shareholders meeting.
FLYHT encourages the investment community to contact the Company
or our representatives directly with any further questions.
About FLYHT Aerospace Solutions Ltd.
FLYHT provides proprietary technological products and services
designed to reduce costs and improve efficiencies in the airline
industry. The Company has patented and commercialized three
products and associated services currently marketed to airlines,
manufacturers and maintenance organizations around the world. Its
premier technology, AFIRS™ UpTime™, allows airlines to monitor and
manage aircraft operations anywhere, anytime, in real time. If an
aircraft encounters an emergency, FLYHT's triggered data streaming
mode, FLYHTStream™, automatically streams vital data, normally
secured in the black box, to designated sites on the ground in
real-time. The Dragon is FLYHT's latest product, a revolutionary
light weight portable satellite communications device that blends
existing FLYHT technology with that of the iPad.
AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks
of FLYHT Aerospace Solutions Ltd.
Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
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www.flyht.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.
FLYHT Aerospace Solutions Ltd.Thomas R. French, CGAChief
Financial Officer403-291-7427tfrench@flyht.comInvestor RelationsThe
Howard Group Inc.Dave BurwellVice President(888) or
(403)-221-0915dave@howardgroupinc.comBristol Institutional
RelationsGlen AkselrodPresident(905) 326-1888glen@bristolir.comKin
Communications Inc.Fred Leigh(866) or (604)
684-6730FLY@kincommunications.com
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