Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 September 1, 2015 - 4:59 PM EDT
Print Email Article Font Down Font Up Charts

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwired - Sept. 1, 2015) - Bonavista Energy Corporation (TSX:BNP) ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.34335 to 1.35652. This increase will be effective on September 15, 2015 (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
August 31, 2015 1.34335 $0.035 $3.57 0.01317 September 15, 2015 1.35652

(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 Valiant Trust Company at its principal transfer office in Suite 600, 530 - 8th Avenue S.W., Calgary, Alberta, T2P 3S8.

Please visit our website at for detailed corporate information.

Bonavista is a mid-sized energy corporation committed to maintaining its emphasis on operating high quality oil and natural gas properties, providing a balance of growth and income to our shareholders while ensuring financial strength and sustainability.

Bonavista Energy Corporation
Dean M. Kobelka
Vice President, Finance & CFO

Berk Sumen
Manager, Investor Relations

1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
(403) 213-4300

Source: Marketwired (Canada) (September 1, 2015 - 4:59 PM EDT)

News by QuoteMedia