Greenfire Announces Date for Rights Plan Hearing with the Alberta Securities Commission and Resignation of Two Directors
Greenfire Resources (NYSE: GFR) (TSX: GFR) announces that the Alberta Securities Commission (ASC) has set November 5, 2024 for a hearing regarding an application by Waterous Energy Fund Management Corp. (WEF) and certain shareholders. The application seeks to cease trade Greenfire's shareholder protection rights plan agreement, which was adopted following WEF's announcement to acquire 43.3% of Greenfire's outstanding common shares.
Greenfire intends to defend its Rights Plan at the hearing to ensure fair treatment of all shareholders and allow the Board to explore value-enhancing alternatives. Additionally, Julian McIntyre and Venkat Siva, principals of selling shareholders Allard Services and Annapurna respectively, have resigned as directors of the company.
Greenfire Resources (NYSE: GFR) (TSX: GFR) annuncia che la Alberta Securities Commission (ASC) ha fissato il 5 novembre 2024 per un'udienza riguardante una richiesta della Waterous Energy Fund Management Corp. (WEF) e di alcuni azionisti. La richiesta mira a cessare il piano di protezione dei diritti degli azionisti di Greenfire, adottato in seguito all'annuncio di WEF di acquisire il 43,3% delle azioni ordinarie in circolazione di Greenfire.
Greenfire intende difendere il proprio Piano dei Diritti durante l'udienza per garantire un trattamento equo di tutti gli azionisti e consentire al Consiglio di esplorare alternative che possano aumentare il valore. Inoltre, Julian McIntyre e Venkat Siva, dirigenti degli azionisti venditori Allard Services e Annapurna rispettivamente, si sono dimessi come amministratori della società.
Greenfire Resources (NYSE: GFR) (TSX: GFR) anuncia que la Alberta Securities Commission (ASC) ha fijado el 5 de noviembre de 2024 para una audiencia sobre una solicitud de Waterous Energy Fund Management Corp. (WEF) y ciertos accionistas. La solicitud busca cesar el acuerdo del plan de protección de derechos de los accionistas de Greenfire, que fue adoptado tras el anuncio de WEF de adquirir el 43,3% de las acciones ordinarias en circulación de Greenfire.
Greenfire tiene la intención de defender su Plan de Derechos en la audiencia para garantizar un trato justo a todos los accionistas y permitir que la Junta explore alternativas que aumenten el valor. Además, Julian McIntyre y Venkat Siva, principales de los accionistas vendedores Allard Services y Annapurna respectivamente, han renunciado como directores de la empresa.
Greenfire Resources (NYSE: GFR) (TSX: GFR)가 앨버타 증권 위원회(ASC)가 Waterous Energy Fund Management Corp. (WEF) 및 일부 주주들의 신청에 대한 청문회를 2024년 11월 5일로 정했다고 발표했습니다. 이 신청은 WEF가 Greenfire의 발행된 일반주식 43.3%를 인수하겠다고 발표한 후 채택된 Greenfire의 주주 보호 권리 계획 계약을 중단하려고 합니다.
Greenfire는 청문회에서 모든 주주에게 공정한 대우를 보장하고 이사회가 가치를 증대할 수 있는 대안을 탐색할 수 있도록 하기 위해 권리 계획을 방어할 예정입니다. 또한, 판매 주주의 주요 관계자 Julian McIntyre와 Venkat Siva가 각각 Allard Services와 Annapurna의 이사직에서 사임했습니다.
Greenfire Resources (NYSE: GFR) (TSX: GFR) annonce que la Alberta Securities Commission (ASC) a fixé le 5 novembre 2024 pour une audience concernant une demande de Waterous Energy Fund Management Corp. (WEF) et certains actionnaires. La demande vise à mettre fin à l'accord de plan de protection des droits des actionnaires de Greenfire, qui a été adopté suite à l'annonce de WEF d'acquérir 43,3% des actions ordinaires en circulation de Greenfire.
Greenfire a l'intention de défendre son Plan de Droits lors de l'audience afin d'assurer un traitement équitable à tous les actionnaires et de permettre au Conseil d'explorer des alternatives susceptibles d'accroître la valeur. De plus, Julian McIntyre et Venkat Siva, principaux des actionnaires vendeurs Allard Services et Annapurna respectivement, ont démissionné de leurs fonctions de directeurs de l'entreprise.
Greenfire Resources (NYSE: GFR) (TSX: GFR) gibt bekannt, dass die Alberta Securities Commission (ASC) eine Anhörung für den 5. November 2024 zu einem Antrag von Waterous Energy Fund Management Corp. (WEF) und bestimmten Aktionären angesetzt hat. Der Antrag zielt darauf ab, das Schutzrecht der Aktionäre von Greenfire zu beenden, welches nach WEFs Ankündigung zur Übernahme von 43,3% der ausgegebenen Stammaktien von Greenfire verabschiedet wurde.
Greenfire beabsichtigt, seinen Rights Plan in der Anhörung zu verteidigen, um allen Aktionären eine faire Behandlung zu garantieren und dem Vorstand die Möglichkeit zu geben, wertsteigernde Alternativen zu prüfen. Darüber hinaus haben Julian McIntyre und Venkat Siva, Hauptakteure der verkaufenden Aktionäre Allard Services und Annapurna, respektive, ihre Ämter als Direktoren des Unternehmens niedergelegt.
- Board's proactive approach in adopting a Rights Plan to protect shareholder interests
- Company's commitment to defend the Rights Plan at the ASC hearing
- Potential change in control with WEF seeking to acquire 43.3% of outstanding shares
- Resignation of two directors, including the Board Chair
- Legal challenge to the company's Rights Plan
Calgary, Alberta--(Newsfile Corp. - September 30, 2024) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company"), a Calgary-based energy company focused on the production and development of thermal energy resources from the Athabasca region of Alberta, Canada announces that the Alberta Securities Commission ("ASC") has set November 5, 2024 as the date for the hearing in respect of the application made by certain limited partnerships managed by Waterous Energy Fund Management Corp. (collectively, "WEF") and parties that it has entered into share purchase agreements with, namely Allard Services Limited ("Allard"), a corporation controlled by former director and Greenfire Board Chair Julian McIntyre, and Annapurna Limited ("Annapurna"), a corporation controlled by former Greenfire director Venkat Siva, and Modro Holdings LLC (together with Allard and Annapurna, the "Selling Shareholders") requesting that the ASC, among other things, cease trade the Company's shareholder protection rights plan agreement (the "Rights Plan").
Greenfire adopted the Rights Plan following the announcement on September 16, 2024 that WEF had entered into agreements with each of the Selling Shareholders to acquire
Greenfire also announces that today each of Julian McIntyre, the principal of Selling Shareholder Allard, and Venkat Siva, the principal of Selling Shareholder Annapurna, has tendered their resignation as a director of the Company.
About Greenfire
Greenfire is an intermediate, lower-cost and growth-oriented Athabasca oil sands producer with concentrated Tier-1 assets that use steam assisted gravity drainage extraction methods. The Company is operationally focused with an emphasis on an entrepreneurial environment and a high level of employee ownership. Greenfire Common Shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol "GFR". For more information, visit greenfireres.com or find Greenfire on LinkedIn and X.
Contact Information
Greenfire Resources Ltd.
205 5th Avenue SW
Suite 1900
Calgary, AB T2P 2V7
investors@greenfireres.com
greenfireres.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225201
FAQ
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