As previously announced on
The detailed voting results regarding the special resolution to approve the Arrangement, the ordinary resolution to approve the adoption of the RSU plan of the Company (the "RSU Plan") and the ordinary resolution to ratify and approve the prior grant of RSUs to
- With respect to the resolution to approve the Arrangement, a total of 27,889,962 Virginia Energy Shares were voted, representing 39.99% of the total issued and outstanding Virginia Energy Shares. Of the votes cast, 27,809,159 Virginia Energy Shares, or 99.71%, were voted in favour of the resolution. Of the votes cast by minority shareholders (being those Virginia Energy Shares beneficially owned or controlled by shareholders other than the Walter Coles, Sr., whose votes must be excluded from the minority vote in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions) 15,510,214 Virginia Energy Shares, or 99.48%, were voted in favour of the resolution.
- With respect to the resolution to adopt the RSU Plan, a total of 27,889,962 Virginia Energy Shares were voted, representing 39.99% of the total issued and outstanding Virginia Energy Shares. Of the votes cast by shareholders, 25,008,797 Virginia Energy Shares, or 89.67%, were voted in favour of the resolution.
- With respect to the resolution to ratify and approve the prior grant of RSUs to
Joseph Mullin , President of the Company, a total of 27,810,962 Virginia Energy Shares were voted, representing 39.92% of the total issued and outstanding Virginia Energy Shares of disinterested shareholders (being holders of Virginia Energy Shares other thanJoseph Mullin ). Of the votes cast by disinterested shareholders, 27,551,570 Virginia Energy Shares, or 99.07%, were voted in favour of the resolution.
Completion of the Arrangement remains subject to receipt of the final order of the
Following the completion of the Arrangement, the Virginia Energy Shares will be de-listed from, and will not be available for trading on, the
On Behalf of the Board of Directors of
"
President & CEO
Certain of the statements in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, implications regarding the consummation and timing of the Arrangement; the satisfaction of the conditions precedent to the Arrangement; and timing, receipt and anticipated effects of court, regulatory and other consents and approvals. Forward-looking statements and forward-looking information generally express predictions, expectations, beliefs, plans, projections, or assumptions regarding future events or performance, they do not constitute historical fact and they are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those anticipated or implied in such information or statements. Such factors include, amongst others, risks related to failure to receive approval by the required court, regulatory and other consents and approvals to effect the Arrangement, the possibility that the Arrangement could be terminated under certain circumstances. Forward-looking statements and information contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements or information will prove to be accurate. Actual results may differ materially from those anticipated or projected. Accordingly, readers should not place undue reliance on forward-looking information.
Neither
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within
SOURCE
© Canada Newswire, source