48M share cancellation represents about 66% of total outstanding shares been cancelled, the latest total number of outstanding shares are 25.5 million.
The number of shares been cancelled are all from controlling shareholders, which means for small shareholders, their shareholding position is almost 3x more concentrated.
This transaction will have impacts on the financial statements, consolidated financial statement with current SIMCOR acquisition, the number of fully diluted weighted-average shares and the earnings per share, from Q2, 2022.
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Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Contact Information:
Investor Relations: CORE IR
+1 516 222 2560
IR@sincerityplastics.com
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