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TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION
TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION ...
About this update from Tidewater Midstream & Infrastructure Ltd.
[{"type":"text","content":"\n\n\n\n TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION\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.prntal{\nTEXT-ALIGN: LEFT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Aug. 21, 2025\n \n\n\n /CNW/ - Tidewater Midstream and Infrastructure Ltd. (\"Tidewater\" or the \"Corporation\") (TSX: TWM) announces that, further to the special resolution approved by the Corporation's shareholders at the annual general and special meeting held on\n \n May 27, 2025\n \n , the board of directors of the Corporation has determined to implement the consolidation of the Corporation's common shares (the \"Common Shares\") on the basis of one (1) post-consolidation Common Share for every twenty (20) pre-consolidation Common Shares (the \"Consolidation\"). The expected effective date for the Consolidation is\n \n August 28, 2025\n \n .\n \n\n\n\n\n\n\n\n\n\n\n The Toronto Stock Exchange (\"TSX\") has conditionally approved the Consolidation, and the Common Shares are expected to commence trading on the TSX on a post-Consolidation basis within 2 or 3 business days following the receipt and acceptance of materials by the TSX.\n \n\n\n\n The Common Shares will continue to be listed on the TSX under the symbol \"TWM\" on a post-Consolidation basis under a new CUSIP and new ISIN. No fractional Common Shares will be issued as a result of the Consolidation. Any fractional Common Shares resulting from the Consolidation will be rounded to the nearest whole Common Share with fractions equal to and above 0.5 being rounded up to the nearest whole Common Share and fractions below 0.5 being rounded down to the nearest whole Common Share.\n \n\n\n\n As a result of the Consolidation, the number of outstanding Common Shares will be reduced from 431,890,308\n \n\n pre-Consolidation Common Shares to approximately 21,594,515 post-Consolidation Common Shares, subject to adjustments for rounding. Proportionate adjustments have been made to the conversion price of the Corporation's outstanding convertible unsecured subordinated debentures (t...