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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Calfrac Well Services Ltd.    CFW   CA1295841086

CALFRAC WELL SERVICES LTD.

(CFW)
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Calfrac Well Services : delays vote on recapitalization plan to Sept. 29 after Wilks Brothers offer

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09/14/2020 | 07:19am EDT

CALGARYCalfrac Well Services Ltd. is postponing a vote on its recapitalization plan following an unsolicited takeover offer for the company by Texas-based Wilks Brothers LLC.

The Calgary-based company says it will now hold a vote by its shareholders and unsecured noteholders on the management reorganization plan on Sept. 29 instead of Sept. 17.

Wilks Brothers, which owns a nearly 20 per cent stake in the company and opposes the recapitalization plan, has made an offer of 18 cents per share for Calfrac.

The company says its board of directors will review the takeover offer and make a formal recommendation to shareholders by Sept. 24.

Calfrac's reorganization under the Canada Business Corporations Act must be supported by two-thirds of Calfrac's debtholders and shareholders in separate votes to proceed.

It has said that its proposal has the backing of 78 per cent of the holders of senior unsecured notes.

This report by The Canadian Press was first published Sept. 14, 2020.

Companies in this story: (TSX:CFW)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile


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Financials
Sales 2020 691 M 525 M 525 M
Net income 2020 - - -
Net Debt 2020 636 M 483 M 483 M
P/E ratio 2020 -0,05x
Yield 2020 -
Capitalization 25,4 M 19,4 M 19,3 M
EV / Sales 2020 0,96x
EV / Sales 2021 1,08x
Nbr of Employees 3 300
Free-Float 77,7%
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Technical analysis trends CALFRAC WELL SERVICES LTD.
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TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 0,33 CAD
Last Close Price 0,18 CAD
Spread / Highest target 643%
Spread / Average Target 90,9%
Spread / Lowest Target -100%
EPS Revisions
Managers
NameTitle
Lindsay R. Link President, Chief Operating Officer & Director
Ronald P. Mathison Executive Chairman
Michael D. Olinek Chief Financial Officer
James Michael Brown Vice President-Technology
James S. Blair Independent Director
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