SEFE, a sustainability company engaged in offering innovative, pioneering solutions for the world's energy needs, just announced that it has retired 4.5 million shares of common stock. As a result, the number of common shares issued and outstanding has been reduced by approximately 8%.
According to the press release issued by SEFE this morning, the retirement of these shares occurred in connection with a Separation and Release Agreement involving the company and a former director. Immediately following the exchange and retirement of the common shares, the number of common shares issued and outstanding was reduced from 59,583,575 to 55,083,575. The DTC float is now 13,774,000, and the number of authorized shares is 200,000,000.
Don Johnston, CEO of SEFE, stated, "The retirement of these common shares is a very positive step toward improving our Company's overall capital structure and enhancing value for both new and existing shareholders."
To learn more about the company, visit www.sefelectric.com
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