Automodular Announces Exchange Of Class X Shares.TORONTO -- Automodular Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AM) ("Automodular") announces that pursuant to an Exchange Agreement entered into in 2001 it has triggered its exchange rights attached to all of the Class X shares of its subsidiary Automodular Assemblies Inc. As a result of this exchange, Automodular will issue from treasury 7,000,000 common shares. This transaction does not impact basic or fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of because the Class X shares participated in the earnings and dividends of the Company as though they were common shares. Automodular is a supplier of sub-assembly, sequencing, transportation and logistics services to six OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and plants in Ontario, Michigan and Ohio. The Company has eight operating facilities and employs over 800 people. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities and on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review at www.sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular Corporation (TSX:AM) |
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