Business
Calfrac provides details of share split and voting results of election of directors
CALGARY , May 9, 2014 /CNW/ - Calfrac Well Services Ltd. ("Calfrac") (TSX-CFW) announc...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\nCALGARY, May 9, 2014 /CNW/ - Calfrac Well Services Ltd. (\"Calfrac\") (TSX-CFW) announced today that, at its annual and special meeting of shareholders\n held on May 8, 2014, its shareholders approved a split of its common\n shares on a two-for-one basis and the seven nominees proposed as\n directors and listed in Calfrac's management information circular dated\n March 28, 2014 were elected as directors.\n\n\nShare Split\n\n\nThe record date for the share split will be the close of business on May\n 23, 2014.  The payment date, being the date on which Computershare\n Trust Company of Canada, Calfrac's transfer agent, will mail additional\n share certificates representing the common shares to which shareholders\n are entitled as a result of the share split, will be on May 30, 2014. \n All future dividends approved by Calfrac's board of directors will\n reflect the two-for-one share split.\n\n\nThe Toronto Stock Exchange has determined to implement due bill trading\n in connection with the share split.  A due bill is an entitlement\n attached to listed securities undergoing a material corporate action,\n such as a share split.  In this instance, the entitlement is to the\n additional common shares of Calfrac issuable as a result of the share\n split.  The common shares of Calfrac will trade on a due bill basis\n from May 21, 2014 to May 30, 2014, inclusive.  Any trades that are\n executed on the Toronto Stock Exchange during this period will be\n flagged to ensure purchasers receive the entitlement to the additional\n common shares issuable as a result of the share split.  Ex-distribution\n trading in the common shares on a split-adjusted basis will commence on\n June 2, 2014.  The due bill redemption date will be June 4, 2014.\n\n\nFor beneficial shareholders who hold their shares in an account with\n their investment dealer or other intermediary, their account will be\n automatically updated to reflect the share split.  Registered\n shareholders should retain their current Calfrac share certificates,\n which will remain valid and continue to represent the number of Calfrac\n common shares indicated on those certificates.  Share certificates\n representing additional common shares of Calfrac issuable as a result\n of the share split will be mailed to registered shareholders,...