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Independent Proxy Advisory Firms Recommend that Paramount and Trilogy Shareholders Vote for the Merger of Paramount and Trilogy
Independent Proxy Advisory Firms Recommend that Paramount and Trilogy Shareholders Vote fo...
About this update from Paramount Resources Ltd. Class A
[{"type":"text","content":"\n\n\n\nIndependent Proxy Advisory Firms Recommend that Paramount and Trilogy Shareholders Vote for the Merger of Paramount and Trilogy\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, Aug. 30, 2017\n\n\n\nCALGARY, Aug. 30, 2017 /CNW/ - Paramount Resources Ltd. (TSX: POU) (\"Paramount\") and Trilogy Energy Corp. (TSX: TET) (\"Trilogy\") are pleased to announce that Institutional Shareholder Services Inc. (\"ISS\") and Glass Lewis and Co. (\"Glass Lewis\"), two independent proxy advisory firms that provide voting recommendations to institutional investors, have recommended that shareholders of both Paramount and Trilogy vote for the proposed merger of Paramount and Trilogy (the \"Merger\") at the upcoming special meetings of the companies to be held on September 8, 2017.\n\nIn making its conclusion in relation to Paramount, ISS stated \"A vote FOR is warranted based on a review of the terms of the transaction, in particular, the transaction makes strategic sense as it establishes the company as a much larger shale oil and gas producer in Canada, the complementary nature of the assets of the company, Trilogy and Apache Canada allows for the emergence of various synergies, the transaction gives the company substantial capital allocation flexibility among its core operating areas, and market reaction has been favourable.\"1 ISS made a similar comment in relation to Trilogy and also noted that current Trilogy shareholders stand to benefit from the combined entity's stronger balance sheet.\n\nIn making its recommendation that shareholders vote FOR the Merger, Glass Lewis considered the historical connection and existing relationship between the two companies, the strategic direction of the companies and the independent valuations of each of Paramount and Trilogy prepared by Deloitte.\n\nParamount and Trilogy encourage their shareholders to read the joint information circular mailed to all Paramount and Trilogy shareholders with respect to the Merger. The joint information circular was filed on the profiles of Paramount and Trilogy at www.sedar.c...