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Ensign Completes Payment for Trinidad Shares Tendered at Initial Offer Expiry, Confirms Ownership of Approximately 66.73% of Trinidad Shares, and Urges Remaining Trinidad Shareholders to Tender Today to Receive Payment Promptly
Ensign Completes Payment for Trinidad Shares Tendered at Initial Offer Expiry, Confirms Ow...
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\n\n\n\nEnsign Completes Payment for Trinidad Shares Tendered at Initial Offer Expiry, Confirms Ownership of Approximately 66.73% of Trinidad Shares, and Urges Remaining Trinidad Shareholders to Tender Today to Receive Payment Promptly\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 29, 2018\n\n\n\nEnsign releases funds to the Depositary and to CDS in payment for Trinidad shares taken up; shareholders should receive funds within days. Surpassing the 66 2/3% mark ensures that Ensign will be able to complete a subsequent acquisition transaction to acquire the remaining Trinidad Shares. Trinidad shareholders urged to tender their shares immediately to receive their funds promptly and avoid the delay of a subsequent acquisition transaction, whose outcome is assured. Shareholders who have not tendered can tender today by contacting Kingsdale Advisors at 1-866-581-1514 or by e-mail at [email protected]. CALGARY, Nov. 29, 2018 /CNW/ - Ensign Energy Services Inc. (TSX:ESI) (\"Ensign\") announces that Ensign has released funds to the Depositary and to CDS in payment for Trinidad shares taken up at the initial expiry on November 27th, 2018. Trinidad Shareholders who hold their shares in registered form will be mailed their cheques today by the Depositary. Trinidad Shareholders who hold their shares through a financial intermediary will receive their funds directly to their accounts. CDS will release funds received to its members today and then each financial intermediary has its own procedure for allocating funds to client accounts thereafter.\nEnsign now owns 66.73% of Trinidad's outstanding shares. With a controlling interest of greater than 66 2/3% of the Trinidad Shares, Ensign will succeed in acquiring all of the Trinidad Shares at $1.68 per share, either through a Compulsory Acquisition or a Subsequent Acquisition Transaction (as defined in the Offer) to acquire the remaining shares. Completion of such transactions may require up to 60 days or potentially longer from the expiry of the Offer. Given Ensign's controlling interest, ...