CALGARY, ALBERTA–(Marketwired – Jan. 2, 2015) – Bonavista Energy Corporation (TSX:BNP) (“Bonavista”) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.28262 to 1.29497. This increase will be effective on January 15, 2015 (the “Effective Date”).
The following are the details of the calculation of the Exchange Ratio:
|
Record |
Opening |
Bonavista |
Five day Weighted Average Trading Price of Bonavista common shares (Prior to the end of the Month) |
Increase in |
Effective |
Exchange |
| December 31, 2014 | 1.28262 | $0.07 | $7.27 | 0.01235 | January 15, 2015 | 1.29497 |
| (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 310, 606 – 4th Street S.W., Calgary, Alberta, T2P 1T1.
Please visit our website at www.bonavistaenergy.com for detailed corporate information.
Bonavista is a mid-sized energy corporation committed to prudently operating high quality oil and natural gas properties and providing consistent returns to our shareholders while ensuring financial strength and sustainability.
Bonavista Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300
Berk Sumen
Manager, Investor Relations
(403) 213-4300
www.bonavistaenergy.com