Digital signal technology firm Lyrtech plans a 10 for one share consolidation

Published Wednesday August 20th, 2008

THE CANADIAN PRESS

QUEBEC - Lyrtech inc. (TSXV:LYT), a Quebec-based developer of digital signal technology, says it plans a 10 for one share consolidation after shareholders approved the move at a special meeting July 23.

The company said its share capital of nearly 247 million shares "is not conducive to completing such additional equity financing and that a consolidation of the company's share capital is required in order to facilitate attracting new equity investment."

Following the consolidation, the company will have about 24.7 million shares outstanding.

Lyrtech develops and manufactures advanced digital signal processing technology for network and wireless communications, audio and video processing, as well as electronic systems.

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