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Foraco announces the termination of the Investor Rights Agreement
Foraco announces the termination of the Investor Rights Agreement Canada NewsWire ...
About this update from Foraco International Sa
[{"type":"text","content":"\n \n \n \n Foraco announces the termination of the Investor Rights Agreement\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n and\n \n MARSEILLE, France\n \n \n ,\n \n \n March 6, 2024\n \n \n /CNW/ - Foraco International SA (TSX: FAR) (the \"Company\" or \"Foraco\"), a leading global provider of mineral and water drilling services, today announced the termination of the Investor Rights Agreement dated\n \n July 7, 2021\n \n among the Company, Oaktree Capital Management, L.P. (\"Oaktree\"), Kartesia Securities IV S.A (\"Kartesia\"), Jean-Pierre Charmensat,\n \n Daniel Simoncini\n \n , and the holding companies of\n \n Daniel Simoncini\n \n and Jean-Pierre Charmensat (the \"Investor Rights Agreement\").\n \n \n Following the disposition by Oaktree and Kartesia of their ordinary shares of the Company respectively on\n \n January 16, 2024\n \n and\n \n March 5, 2024\n \n , the Investor Rights Agreement was automatically terminated in accordance with its terms. In connection with the termination of the Investor Rights Agreement, Diercxsens Investments & Advisory BV, represented by Jean Diercxsens, resigned from its position as a member of the Board.\n \n \n \n Tim Bremner\n \n , CEO of Foraco commented, \"We are pleased that the disposition of the Oaktree and Kartesia shares will contribute to the increased liquidity of Foraco shares which is clearly in the best interest of all shareholders.\"\n \n \n \"Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.\"\n \n \n \n \n Caution concerning forward-looking statements\n \n \n \n \n These statements and information include estimates, forecasts, information and statements as to Management's expectations with respect to, among other things, the liquidity of Foraco shares. Often, but not always, forward-looking statements and information can be identified by the use of words such as \"may\", \"will\", \"should\", \"plans\", \"expects...