CFS International Inc. Redeems its Preferred Shares.TORONTO -- CFS CFS abbr. chronic fatigue syndrome CFS, n.pr See syndrome, chronic fatigue. CFS Chronic fatigue syndrome, see there International Inc. (CFS) announces that all outstanding Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. of CFS were redeemed today at a price of $3.75 per share. The redemption followed the purchase earlier today of preferred shares which shareholders elected to sell to 1206036 Alberta Ltd., a wholly-owned subsidiary of CFS' controlling shareholder Ports International Enterprises Limited (PIEL). Notice of redemption of the preferred shares will be sent on or before February 3, 2006 to each shareholder of CFS who has not yet surrendered their share certificates for redemption. CFS has deposited to a special account maintained by CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Mellon Trust Company, as depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. , the redemption amount in respect of preferred shares represented by certificates which have not yet been surrendered. Pursuant to the terms of the preferred shares, the rights of holders of preferred shares that have not yet been surrendered are limited to receiving (without interest) their proportionate share of the total redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. so deposited against presentation and surrender of the certificates representing preferred shares held by them. As of the date of the redemption of the preferred shares, all holders ceased to be holders of preferred shares and, as a result, CFS is now a wholly-owned subsidiary of PIEL and its shareholders. CFS also announces that, effective at the close of business January 18, 2006, the common shares of CFS were delisted from the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . CFS intends to make application to the applicable securities commissions for CFS to cease to be a reporting issuer. |
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