Groupe Bikini Village inc.
TSX : GBV

Groupe Bikini Village inc.

September 27, 2010 11:56 ET

Groupe Bikini Village inc Announces That its Share Consolidation is Effective

SAINTE-JULIE, QUEBEC--(Marketwire - Sept. 27, 2010) - Groupe Bikini Village inc. (TSX:GBV) ("Groupe Bikini Village" or the "Company") today announces that the consolidation of its outstanding common shares ("Shares") previously announced in the Company's press release of May 3, 2010 (the "Consolidation") is effective. The Shares have been consolidated on a basis of one new Share for every 125 old Shares.

The Consolidation was approved at the Company's annual and special meeting of shareholders held on Friday, June 11, 2010.

Registered holders of Shares should now complete and return to Computershare the letter of transmittal (the "Letter") mailed to them with the Company's information circular dated April 29, 2010. A lost Letter can be replaced by contacting Computershare at 1-800-564-6253. Non-registered holders of Shares should contact their brokers regarding the Consolidation.

The Consolidation will be effective for trading purposes on the Toronto Stock Exchange (the "TSX") on or about September 29, 2010 (the "Effective Date"). Following the Consolidation, the Company will have approximately 1,911,170 common shares outstanding.

As previously announced, no fractions of Shares will be issued as a result of the Consolidation, with all such fractions being rounded down. For each pre-Consolidation Share that does not form part of a post-Consolidation Share, the shareholders will receive a cash payment of the greater of (i) $0.05 and (ii) the market price (as defined in the TSX's rules) on the Effective Date.

About Groupe Bikini Village

Groupe Bikini Village inc., serving Canadians for almost a quarter-century, is a leading swimwear retailer with a network of new and renovated boutiques across Eastern Canada. In its bright and inviting stores with comfortable change rooms and knowledgeable staff, Groupe Bikini Village helps its customers choose from among Canada's widest selection of swimsuits, beach accessories, and cruisewear, in the most popular brands the industry has to offer and in styles to suit every figure. The newest addition to its retail network, Lanaï, offers the most popular clothing brands for young girls in Brossard, Quebec. Headquartered in Sainte-Julie, Quebec, Groupe Bikini Village inc. operates 60 stores and employs approximately 500 people; its securities trade on the Toronto Stock Exchange under the stock symbol GBV. For more information about Groupe Bikini Village inc., please visit our website at www.bikinivillage.com.

Contact Information

  • Groupe Bikini Village Inc.
    Yves Simard
    President and Chief Executive Officer
    450-449-1310 ext 4797
    ysimard@bikinivillage.com