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Calfrac Shareholders: Ten Important Things to Keep in Mind
Calfrac Shareholders: Ten Important Things to Keep in Mind Canada NewsWire ...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"Calfrac-Shareholders\n \n \n \n Calfrac Shareholders: Ten Important Things to Keep in Mind\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n CISCO, TX, Sept. 28, 2020\n \n \n \n \n \n CISCO, TX\n \n ,\n \n Sept. 28, 2020\n \n /CNW/ - In response to the press release issued by Calfrac Well Services Ltd. (\"\n \n Calfrac\"\n \n ) (TSX: CFW) this morning, Wilks Brothers, LLC (\"\n \n Wilks\n \n \") offers ten key points for shareholders to keep in mind when considering Calfrac's Amended Management Transaction and Wilks' Premium Offer.\n \n \n \n \n \n \n \n \n \n \n \n \n Actions Speak Louder Than Words\n \n \n . Forced by Wilks' actions to amend the Management Transaction, Calfrac has admitted that shareholders were in fact entitled to much more value than they were being offered in the first iteration of the transaction; value that Calfrac insiders and a self-selected group of unsecured creditors attempted to appropriate for themselves. Shame on them.\n \n \n \n \n \n \n Cash is King and Gimmick - Free\n \n \n .  Wilks' Premium Offer of\n \n $0.18\n \n cash per Calfrac Share still provides shareholders with the highest and best value for their shares when compared with the amended Management Transaction.  Calfrac had an opportunity to amend their Management Transaction and beat Wilks' Premium Offer.  That task was simple. Their failure to do so speaks volumes. The amended Management Transaction offers a convoluted option to shareholders that is shackled by gimmicks and hard caps, which results in no more than\n \n $0.12\n \n in cash per Calfrac Share, and pales in comparison to the\n \n $0.18\n \n in cash per Calfrac Share that will paid directly to Shareholders by Wilks under the Wilks' Premium Offer. The advertised\n \n $0.15\n \n per share under the amended Management Transaction will likely never happen.\n \n \n \n \n \n \n The Power Rests with the Shareholders\n \n \n .  The Wilks' Premium Offer option has wrestled the power back into Shareholders' hands to decide their own fa...