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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Exceed Energy | TSXV:EX.B | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
Exceed Energy Inc. (the "Corporation") (TSX VENTURE:EX.A) (TSX VENTURE:EX.B) announces that effective as of the close of business on February 2, 2009 (the "Conversion Date"), and pursuant to the Articles of the Corporation, all of the then issued and outstanding Class B common shares of the Corporation (the "Class B Shares") will be converted (the "Conversion") into Class A common shares of the Corporation (the "Class A Shares") at the Conversion Rate, as such term is hereinafter defined. The Articles of the Corporation provide that the number of Class A Shares obtained upon the Conversion shall be equal to $10.00 divided by the greater of $1.00 and the Current Market Price of the Class A Shares on the Conversion Date (the "Conversion Rate"). The Current Market Price, which the Articles of the Corporation defines to mean the weighted average trading price per Class A Share for any 30 consecutive trading days selected by the Corporation and commencing not more than 45 trading days before such date on the TSX Venture Exchange Inc., has been determined to be less than $1.00. Accordingly, the Conversion Rate will be 10 and each Class B Share outstanding as at the close of business on the Conversion Date will be converted into 10 Class A Shares. A letter will be mailed to all registered holders of Class B Shares outlining the terms of the Conversion along with a certificate for that number of Class A Shares the shareholder is entitled to receive. Exceed Energy Inc. is a Calgary based emerging oil and gas company engaged in the exploration development, and exploration of oil and gas reserves in western Canada. Exceed's Class A and Class B shares trade on the TSX Venture Exchange under the symbols "EX.A" and "EX.B" respectively.
1 Year Exceed Energy Chart |
1 Month Exceed Energy Chart |
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