CALGARY, ALBERTA--(Marketwired - March 1, 2016) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.40915 to 1.41580. This increase will be effective on March 15, 2016 (the "Effective Date").
The following are the details of the calculation of the Exchange Ratio:
Record Date of Bonavista Dividend |
Opening Exchange Ratio |
Bonavista Dividend per common share |
Five day Weighted Average Trading Price of Bonavista common shares (Prior to the end of the Month) |
Increase in Exchange Ratio (1) |
Effective Date of the increase in Exchange Ratio |
Exchange Ratio as of the Effective Date |
||||||
| February 29, 2016 | 1.40915 | $0.01 | $2.12 | 0.00665 | March 15, 2016 | 1.41580 |
| (1) | The increase in the Exchange Ratio is calculated by multiplying the Bonavista dividend per common share by the Exchange Ratio immediately prior to the Record Date and dividing by the five day weighted average trading price of Bonavista's common shares. |
A holder of Bonavista exchangeable shares can exchange all or a portion of their holdings into Bonavista common shares, at any time, by giving notice to their investment advisor or Computershare at its principal transfer office in Suite 600, 530 - 8th Avenue S.W., Calgary, Alberta, T2P 3S8.
Please visit our website at www.bonavistaenergy.com for detailed corporate information.
Bonavista is a mid-sized dividend paying energy corporation focused on the efficient development of high quality oil and natural gas assets while providing sustainable value to shareholders.
Contact Information:
Vice President, Finance & CFO
Berk Sumen
Manager, Investor Relations
Bonavista Energy Corporation
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
(403) 213-4300
www.bonavistaenergy.com