Shareholders of Jovian Captial Corp. have overwhelmingly approved the proposed consolidation of Jovian’s common shares, the company said Friday.

The ratio of consolidation won’t exceed 20 old common shares for 1 new common share, but the timing and final ratio of the consolidation will be determined by Jovain’s board directors, the company said.

The Jovian group of companies includes AlphaPro Management Inc., BetaPro Management Inc., Horizons Funds Inc., JovFunds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Securities Inc., MGI Securities (USA) Inc., MGI Financial Inc., T.E. Wealth and Felcom Data Services Inc.

IE