Business
Avery Resources Changes Name to Bengal Energy Ltd. and Executes 5:1 Share Consolidation
CALGARY, July 18 /CNW/ - Avery Resources Inc. (TSX: ARY) ("Avery" or "the Company") announces tha...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, July 18 /CNW/ - Avery Resources Inc. (TSX: ARY) ("Avery" or "the\nCompany") announces that at an Annual and Special Meeting (the "Meeting") of\nshareholders held on July 17, 2008, the Company received requisite approval\nfor the name change of the Company to Bengal Energy Ltd. ("Bengal") and to\nconsolidate its shares on a 5:1 basis. The name change better reflects the\nCompany's broadened international oil and gas focus. This follows the\nCompany's appointment of a new management team and purchase of Bengal Energy\nInc. in February 2008. In addition the following directors were elected at the\nMeeting and will continue as directors of Bengal: Bradley G. Johnson, Chayan\nChakrabarty, Richard Edgar, Judith Stripling, Ian J. Towers, James B. Howe and\nTed Hanbury. Bengal wishes to thank R. Stephen Peacock for his contributions\nas a director of Avery. Avery is pleased to announce the addition of Ted\nHanbury as a director of the Company. Mr. Hanbury is the Executive Vice\nPresident of Daylight Resources Trust, and is a professional engineer. He has\nextensive international experience, much of which occurred together with the\ncurrent management team of Bengal. It is anticipated that the Company will\ntrade on the TSX under Bengal Energy Ltd. and on a consolidated basis on or\nabout Tuesday July 22, 2008 at which point the trading symbol will change from\n"ARY" to "BNG". The Company's website address will change from\nwww.averyresources.com to www.bengalenergy.ca. Subsequently, the Company\neffected the name change and consolidation by filing the required documents\nwith corporate registry.\n\n\nRegistered shareholders of the Company are required to deliver their\nexisting common share certificates (the "Old Common Shares") to the Company's\nregistrar and transfer agent, Valiant Trust Company ("Valiant"), who will\nexchange the Old Common Shares for new common share certificates of Bengal\n(the "New Common Shares") on the basis of five Old Common Shares for every one\nNew Common Share. A Letter of Transmittal for the exchange of the shares will\nbe sent to all registered shareholders of record. To receive New Common\nShares, registered shareholders should follow the instructions set out in the\nLetter of Transmittal and send t...