(RFID World Canada) Posera-HDX Inc. announced this week that it has completed its company’s reorganization allowing for an arrangement which will result in all of its assets and liabilities being transferred to its new name Posera-HDX Ltd.
The Dexit RFID Business assets and liabilities will be an exception to this transfer. At a special meeting held last month, where 87% of the shareholders of the old company name mutually agreed to the reorganization.
On September 23, 2011, the Ontario Superior Court of Justice gave its final approval for the rearrangement, following the requirements of the Business Corporations Act of Ontario, Canada. Under the act, Posera-HDX has become a wholly owned subsidiary of Posera-HDX Limited.
Posera-HDX Inc. now owns the legacy Dexit radio frequency identification device business known as the Dexit RFID Busines.
The common shares of Posera-HDX Limited with begin trading on the TSX under the stock symbol HDX in mid-October when the business opens.