|IDC COMPLETES SHARE CONSOLIDATION|
IDC COMPLETES SHARE CONSOLIDATION
October 18, 2013 - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX:IDL),is pleased to announce that it has completed the consolidation of its issued and outstanding common shares (the "Consolidation"). The Consolidation was approved by the Company's shareholders at its annual and special shareholders meeting held on August 6, 2013 and has been accepted by the Toronto Stock Exchange. Effective today, the Company's common shares have been consolidated on a basis of five pre-Consolidation shares for each one post-Consolidation share. The common shares of the Company will start trading on a consolidated basis at the opening on Tuesday October 22, 2013.
The Company had 908,441,782 common shares outstanding and, following the Consolidation, will have approximately 181,688,356 common shares outstanding. No fractional common shares of IDC will be issued. If as a result of the Consolidation a holder would otherwise be entitled to a fraction of a common share, the number of shares of IDC the holder will receive will be rounded up if the fractional share is equal to or greater than 0.5 and rounded down if the fraction is less than 0.5. Each registered holder will have his holdings aggregated and will be entitled to receive only one whole common share for any fractional interest resulting from the Consolidation of his holdings, as determined on an aggregated basis.
A Letter of Transmittal will be sent to shareholders advising them that the Consolidation has taken place and instructing them to surrender certificates representing pre-Consolidation common shares of the Company in exchange for certificates representing post-Consolidation common shares of IDC. Until surrendered, each certificate will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the Consolidation.
Sidong Huang, President and Chief Executive Officer of the Company, stated, "We believe that the Consolidation will provide the Company with greater flexibility in pursuing its plans to advance its projects and to conclude any additional financings required by the Company in the future."
The Company has not changed its name or its trading symbol as part of the Consolidation.”
About Imaging Dynamics Company (IDC):
The Company hasover 3,000 installations in 50 countries of its proprietary, award winningdirect capture DR technology, which replaces conventional film-based diagnostic imaging and provides acost-effective solution for medical facilities of all sizes to provide high quality diagnostic X-ray images and improve the level of healthcare for their patients.
Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan and Deloitte Technology; for its dedication to innovation, global market growth, and customer focused value proposition.
The Company has itscorporate office in Calgary, Canada,a business office in Hong Kong, and a representative office in Beijing, China.
Visit the IDC web site: www.imagingdynamics.com
For more information, please contact:
1.866.975.6737 Toll Free
Mr. Eugene Woychyshyn
Chief Financial Officer
1.866.975.6737 Toll Free
Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not
historical facts are forward-looking statements. These
forward-looking statements involve known and unknown risks and uncertainties