Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio
Canada NewsWire
CALGARY, April 2, 2018
(TSX: BNP)
CALGARY, April 2, 2018 /CNW/ - Bonavista Energy Corporation ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.45293 to 1.46484. This increase will be effective on April 16, 2018 (the "Effective Date").
The following are the details of the calculation of the Exchange Ratio:
|
Record Date
of Bonavista
Dividend
|
Opening
Exchange
Ratio
|
Bonavista
Dividend per
common
share
|
Five day
Weighted
Average
Trading
Price of
Bonavista
common
shares
(Prior to the
end of the
Month)
|
Increase
in
Exchange
Ratio (1)
|
Effective Date
of the increase
in Exchange
Ratio
|
Exchange
Ratio as of
the
Effective
Date
|
|
March 29,
2018
|
1.45293
|
$0.01
|
$1.22
|
0.01191
|
April 16, 2018
|
1.46484
|
|
|
|
(1)
|
The increase in the Exchange Ratio is calculated by multiplying the Bonavista dividend per common share by
the Exchange Ratio immediately prior to the Record Date and dividing by the five day weighted average trading
price of Bonavista's common shares.
|
A holder of Bonavista exchangeable shares can exchange all or a portion of their holdings into Bonavista common shares, at any time, by giving notice to their investment advisor or Computershare at its principal transfer office in Suite 600, 530 – 8th Avenue S.W., Calgary, Alberta, T2P 3S8.
Please visit our website at www.bonavistaenergy.com for detailed corporate information.
Bonavista is focused on creating premium shareholder value through the efficient development of high quality oil and natural gas assets.
SOURCE Bonavista Energy Corporation
View original content with multimedia: http://www.newswire.ca/en/releases/archive/April2018/02/c1459.html
Dean M. Kobelka, Vice President, Finance & CFO or Berk Sumen, Investor Relations Lead; Bonavista Energy Corporation, 1500, 525 - 8th Avenue SW, Calgary, AB T2P 1G1, Phone: (403) 213-4300, Website: www.bonavistaenergy.comCopyright CNW Group 2018
Source: Canada Newswire
(April 2, 2018 - 4:05 PM EDT)
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