Business
W. David Lyons announces the reorganization of his security holdings of Orca Exploration Group Inc.
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ ST. H...
About this update from Orca Energy Group Inc. Class B
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES./\n\n\nST. HELIER, Jersey, U.K., April 3 /CNW/ - Further to disclosure\nrequirements of applicable securities laws, W. David Lyons, the Chairman of\nOrca Exploration Group Inc. ("Orca"), announces that he has gifted 1,741,975\nClass A Common Shares and 4,373,254 Class B Subordinate Voting Shares of Orca\nto Mourant & Co. Trustees Limited as trustee of the W. David Lyons (2008)\nSettlement ("Settlement") and that such shares have been contributed by the\nSettlement to Shaymar Limited ("Shaymar"), a wholly-owned subsidiary of the\nSettlement. Following completion of the aforementioned transfer, Mr. Lyons\nwill continue to hold options to acquire 1,000,000 Class B Subordinate Voting\nShares of Orca.\n\n\nImmediately following Shaymar's acquisition of the aforementioned\nsecurities of Orca, Shaymar held 1,741,975 Class A Common Shares of Orca and\n4,373,254 Class B Subordinate Voting Shares of Orca. The 1,741,975 Class A\nCommon Shares of Orca and 4,373,254 Class B Subordinate Voting Shares of Orca\nheld by Shaymar represent approximately 99% of the Class A Common Shares and\n16% of the Class B Subordinate Voting Shares of Orca issued and outstanding on\nthe date hereof.\n\n\nShaymar acquired ownership of the aforementioned securities of Orca for\ninvestment purposes. Shaymar may in the future take such actions in respect of\nits holdings as it may deem appropriate in light of the circumstances then\nexisting, including the purchase of additional shares or other securities of\nOrca through open market purchases or privately negotiated transactions, or\nthe sale of all or a portion of its holdings in the open market or in\nprivately negotiated transactions to one or more purchasers.\n\n\n","length":1887,"tagName":"div"}]