Brief: Genifi Announces Proposed Privatization

genifi

23/02/2024 23:44

Feb 23 (Reuters) - genifi inc  GNFI.V :
    * GENIFI ANNOUNCES PROPOSED PRIVATIZATION
    * GENIFI INC - COMPANY ENTERED INTO AN AGREEMENT WITH TOM
BECKERMAN TO PRIVATIZE BY WAY OF SHARE CONSOLIDATION AND
PURCHASE
    * GENIFI INC: BECKERMAN IS EXPECTED TO BE SOLE SHAREHOLDER
OF CO,
WHICH WILL THEN BE DELISTED FROM EXCHANGE
    * GENIFI INC - BECKERMAN, CURRENT PRESIDENT & CO'S CEO
CURRENTLY
OWNS 78.8 MILLION COMMON SHARES REPRESENTING ABOUT 54.6% OF CO'S
OUTSTANDING COMMON SHARES
    * GENIFI INC: CONSIDERATION PAYABLE TO SHAREHOLDERS UPON
COMPLETION OF TRANSACTION WILL BE FROM CO'S CASH ON HAND

Source text for Eikon:  ID:nCNWkWX44a 
Further company coverage:  GNFI.V 

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