Friday, October 29, 2010 6:40:02 PM
Triton (PINKSHEETS: TTDZ) announced today that it was determined and agreed by the Board of Directors and the Controlling Shareholders to issue a resolution allowing the Corporation
to buyback 99 percent of the issued and outstanding shares of the Company effective October 1, 2010 under the following conditions:
The Company shall buyback 99 percent of the issued and outstanding shares of the Company by the Company in exchange for a convertible debenture paying each shareholder $0.0001 per share, and having a maturity date of 5 years with 10% interest per share annually.
This Buyback is a mandatory corporate action requiring that all outstanding shares be exchanged, wherein, for each 101 shares held, those shares will be surrendered to the company's transfer agent in exchange for 1 new common share and a note. All shares must be surrendered to the transfer agent by October 30, 2010.
From the AMENDED AND RESTATED ARTICLES OF INCORPORATION
TRITON DISTRIBUTION SYSTEMS, INC. below !!!
The Corporation’s Board of Directors and Controlling shareholders have agreed on this 30th day of April 2010 that the Company will buyback 99 percent of the issued and outstanding shares of the Company effective June 1, 2010 under the following terms and conditions:
The Company shall buyback 99 percent of the issued and outstanding shares of the Company by the Company in exchange for a convertible debenture paying each shareholder $ 0.01 per share in face value convertible debentures, and having a maturity date of 5 years without interest and convertible after 1 year into common shares at the rate of $ 1 per share.
This Buyback is a mandatory corporate action requiring that all outstanding shares be exchanged, wherein, for each 101 shares held, those shares will be surrendered to the company’s transfer agent in exchange for 1 new common share and a note for $1.
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