Banro Announces Terms of Share Consolidation

May 22, 2017

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TORONTO, ONTARIO–(Marketwired – May 22, 2017) – Banro Corporation (the “Company”) (NYSE MKT:BAA)(TSX:BAA) announces the terms of the share consolidation (the “Consolidation”) that was approved and authorized by the Company’s shareholders at the special meeting of shareholders held on March 31, 2017 (the “Meeting”). At the Meeting, shareholders authorized the board of directors of the Company (the “Board”), in its sole discretion at any time up to one year following the date of the Meeting, to consolidate the outstanding common shares of the Company (“Common Shares”) at a ratio of ten (10), or such lesser number as is determined by the Board, to one (1), and to amend the Company’s articles accordingly.

Category: General