Through some previous agreement (May 2007), PWR has reduced its shares issued and outstanding to 41,271,400 shares by purchasing and cancelling over 13 million shares from a former shareholder. Details below.
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SonnenEnergy Corp. Reduces its Issued Capital
16:05 EST Monday, November 10, 2008
TORONTO, Nov. 10 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR), a leading photovoltaic solar power systems integrator and solar power producer, announces that it acquired 13,750,000 of its common shares from a former shareholder, Hans Hager, pursuant to a security agreement dated May 23, 2007 between SonnenEnergy and Mr. Hager. As stipulated in subsection 35(6) of the Business Corporations Act (Ontario) all such shares have been cancelled thereby reducing SonnenEnergy's total issued and outstanding common shares from 55,021,400 to 41,271,400.
