Gran Tierra Energy Inc. Completes Reverse Stock Split
Gran Tierra Energy Inc. (NYSE American:GTE) (TSX:GTE) (LSE:GTE) has completed its previously announced 1-for-10 reverse stock split. The split was approved by the board in February 2023 and by stockholders on May 3, 2023. Trading on a split-adjusted basis began on May 5, 2023, on the NYSE American and LSE, with TSX following on May 8, 2023.
The reverse split combined every ten issued shares into one, reducing the number of outstanding shares from approximately 333.0 million to 33.3 million. The company's stock will trade under the same symbol 'GTE' with new CUSIP and ISIN numbers. Fractional shares were rounded up or down to the nearest whole number. The split did not directly impact market capitalization or modify voting rights.
Stockholders with book-entry shares or those held through a nominee will see changes reflected in their accounts. Registered shareholders will receive instructions from Odyssey Trust Company, the exchange agent, to exchange old certificates for new ones.
Gran Tierra Energy Inc. (NYSE American:GTE) (TSX:GTE) (LSE:GTE) ha completato il suo raggruppamento azionario reverse 1-per-10 precedentemente annunciato. Il raggruppamento è stato approvato dal consiglio in febbraio 2023 e dagli azionisti il 3 maggio 2023. La quotazione sulla base del raggruppamento è iniziata il 5 maggio 2023, sia sul NYSE American che sul LSE, con il TSX che ha seguito l'8 maggio 2023.
Il raggruppamento ha combinato ogni dieci azioni emesse in una, riducendo il numero delle azioni in circolazione da circa 333,0 milioni a 33,3 milioni. Le azioni della società continueranno a essere negoziate con lo stesso simbolo 'GTE', con nuovi numeri CUSIP e ISIN. Le frazioni di azioni sono state arrotondate all'intero più vicino. Il raggruppamento non ha impattato direttamente la capitalizzazione di mercato né ha modificato i diritti di voto.
Gli azionisti con azioni registrate o quelle detenute tramite un nominato vedranno le modifiche riflesse nei loro conti. Gli azionisti registrati riceveranno istruzioni da Odyssey Trust Company, l'agente di cambio, per scambiare i vecchi certificati con quelli nuovi.
Gran Tierra Energy Inc. (NYSE American:GTE) (TSX:GTE) (LSE:GTE) ha completado su división inversa de acciones de 1 por 10 previamente anunciada. La división fue aprobada por la junta en febrero de 2023 y por los accionistas el 3 de mayo de 2023. La negociación en base a la división ajustada comenzó el 5 de mayo de 2023 en el NYSE American y LSE, con el TSX siguiéndolo el 8 de mayo de 2023.
La división inversa combinó cada diez acciones emitidas en una, reduciendo el número de acciones en circulación de aproximadamente 333,0 millones a 33,3 millones. Las acciones de la compañía se seguirán negociando bajo el mismo símbolo 'GTE' con nuevos números CUSIP e ISIN. Las acciones fraccionarias se redondearon al número entero más cercano. La división no afectó directamente la capitalización de mercado ni modificó los derechos de voto.
Los accionistas con acciones de registro o aquellas mantenidas a través de un nominado verán cambios reflejados en sus cuentas. Los accionistas registrados recibirán instrucciones de Odyssey Trust Company, el agente de intercambio, para cambiar los viejos certificados por nuevos.
Gran Tierra Energy Inc. (NYSE American:GTE) (TSX:GTE) (LSE:GTE)는 이전에 발표된 1대10 비율의 역주식 분할을 완료했습니다. 이 분할은 2023년 2월 이사회에서 승인되었고 2023년 5월 3일 주주들에 의해 승인되었습니다. 주식 분할 조정 거래는 2023년 5월 5일 NYSE American 및 LSE에서 시작되었고, TSX는 2023년 5월 8일에 이어 거래를 시작했습니다.
역분할은 10주가 발행될 때마다 1주로 통합되어, 발행된 주식 수를 약 3억 3천 3백만에서 3천 3백만으로 줄였습니다. 회사의 주식은 새로운 CUSIP 및 ISIN 번호로 'GTE'라는 동일한 기호로 거래될 것입니다. 부분 주식은 가장 가까운 정수로 반올림되거나 내림되었습니다. 이 분할은 시장 자본화에 직접적인 영향을 미치지 않으며, 투표권을 변경하지 않았습니다.
장부 등록된 주주나 대리인을 통해 보유한 주주는 계좌에서 변경 사항을 확인할 수 있습니다. 등록된 주주는 구 인증서를 새 인증서로 교환하기 위한 지침을 교환 에이전트인 Odyssey Trust Company로부터 받을 것입니다.
Gran Tierra Energy Inc. (NYSE American:GTE) (TSX:GTE) (LSE:GTE) a complété son fractionnement inversé d'actions 1 pour 10 précédemment annoncé. Le fractionnement a été approuvé par le conseil d'administration en février 2023 et par les actionnaires le 3 mai 2023. Le trading sur une base ajustée a commencé le 5 mai 2023 sur le NYSE American et le LSE, le TSX suivant le 8 mai 2023.
Le fractionnement inverse a combiné chaque dix actions émises en une, réduisant le nombre d'actions en circulation d'environ 333,0 millions à 33,3 millions. Les actions de la société seront négociées sous le même symbole 'GTE' avec de nouveaux numéros CUSIP et ISIN. Les actions fractionnaires ont été arrondies au nombre entier le plus proche. Ce fractionnement n'a pas d'impact direct sur la capitalisation boursière ni sur les droits de vote.
Les actionnaires avec des actions sous forme de livre ou celles détenues par un mandataire verront les changements reflétés dans leurs comptes. Les actionnaires inscrits recevront des instructions d'Odyssey Trust Company, l'agent de change, pour échanger les anciens certificats contre les nouveaux.
Gran Tierra Energy Inc. (NYSE American:GTE) (TSX:GTE) (LSE:GTE) hat die zuvor angekündigte 1-zu-10-Rückwärtsaktienaufteilung abgeschlossen. Die Aufteilung wurde im Februar 2023 vom Vorstand genehmigt und am 3. Mai 2023 von den Aktionären. Der Handel auf einer auf die Aufteilung angepassten Basis begann am 5. Mai 2023 an der NYSE American und LSE, gefolgt von der TSX am 8. Mai 2023.
Die Rückwärtsaufteilung hat jede ausgegebene Aktie in zehn Aktien zusammengeführt, wodurch die Anzahl der ausgegebenen Aktien von etwa 333,0 Millionen auf 33,3 Millionen reduziert wurde. Die Aktien des Unternehmens werden weiterhin unter dem gleichen Symbol 'GTE' mit neuen CUSIP- und ISIN-Nummern gehandelt. Bruchstücke von Aktien wurden auf die nächste ganze Zahl auf- oder abgerundet. Die Aufteilung hatte keine direkten Auswirkungen auf die Marktkapitalisierung oder die Stimmrechte.
Aktionäre mit Buchaktien oder solche, die über einen nominellen Halter gehalten werden, werden Änderungen in ihren Konten sehen. Eingetragene Aktionäre erhalten Anweisungen von der Odyssey Trust Company, der Wechselstelle, um alte Zertifikate gegen neue einzutauschen.
- Completion of 1-for-10 reverse stock split to maintain NYSE American listing requirements
- Reduction of outstanding shares from 333.0 million to 33.3 million, potentially improving stock liquidity
- Potential short-term stock price volatility due to the reverse split
- Possible negative market perception associated with reverse splits
CALGARY, Alberta, May 05, 2023 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) announced today that it has completed the previously announced 1-for-10 reverse stock split (the “reverse stock split”) of the Company’s common stock, par value
The Company filed an amendment to its certificate of incorporation to effectuate the reverse stock split as of 12:01 a.m. Eastern Time on May 5, 2023, and the Company’s common stock will begin trading on a split-adjusted basis as of the opening of trading on May 5, 2023, on the NYSE American and the London Stock Exchange (“LSE”). On May 5, 2023, trading on the Toronto Stock Exchange (“TSX”) will occur on an unconsolidated basis under the former CUSIP number, with trading on a split-adjusted basis under the new CUSIP number beginning on the TSX as of the opening of trading on May 8, 2023. Following the applicable effective date on each stock exchange, shares of the Company’s common stock will continue to trade on the NYSE American and TSX with a new CUSIP number (38500T 200), and on the LSE with a new ISIN number (US38500T2006), in each case under the symbol “GTE”.
As a result of the reverse stock split, every ten (10) of the Company’s issued shares of common stock were automatically combined into one issued share of common stock, without any change to the par value per share. This reduced the number of issued and outstanding shares of common stock from approximately 333.0 million shares to approximately 33.3 million shares. The Company’s outstanding options were proportionately adjusted to increase the exercise price and reduce the number of shares issuable upon exercise.
If, as a result of the reverse stock split, a stockholder was otherwise entitled to a fraction of a share of common stock in respect of the total aggregate number of pre-reverse stock split shares held by such stockholder, no such fractional shares were awarded. The aggregate number of post-reverse stock split shares of common stock that such stockholder is entitled to was, if the fraction was less than half a share, rounded down to the next nearest whole number of shares, and if the fraction was at least half of a share, rounded up to the nearest whole number of shares, with all shares of common stock held by a beneficial holder being aggregated.
The reverse stock split affected all holders of common stock uniformly and did not affect any shareholder’s percentage ownership interest in the Company, except as a result of the treatment of fractional shares. The reverse stock split did not have any direct impact on the market capitalization of the Company, nor modify any voting rights or other terms of the common stock.
Stockholders with shares held in book-entry form or through a bank, broker, or other nominee were not required to take any action and will see the consequence of the reverse stock split reflected in their accounts on or after May 5, 2023. Such beneficial holders may contact their bank, broker, or nominee for more information.
The Company’s transfer agent, Odyssey Trust Company ("Odyssey"), is acting as the exchange agent for the reverse share split. In connection with the reverse share split, Odyssey has sent a letter of transmittal to registered shareholders which will enable them to exchange their old share certificates for a Direct Registration System Advice/Statement, representing the number of new post-reverse share split common shares they hold, in accordance with the instructions provided in the letter of transmittal. Registered shareholders will be able to obtain additional copies of the letter of transmittal through Odyssey. Until surrendered, each share certificate representing pre-reverse share split common shares will represent the number of whole post-reverse share split common shares to which the holder is entitled as a result of the reverse share split.
Non-registered beneficial holders holding their common shares through intermediaries (securities brokers, dealers, banks, financial institutions, etc.) will not need to complete a letter of transmittal and should note that such intermediaries may have specific procedures for processing the reverse share split, including the treatment of fractional shares. Shareholders holding their common shares through an intermediary and who have any questions in this regard are encouraged to contact their intermediary.
Contact Information
For investor and media inquiries please contact:
Gary Guidry
President & Chief Executive Officer
Ryan Ellson
Executive Vice President & Chief Financial Officer
Rodger Trimble
Vice President, Investor Relations
+1-403-265-3221
info@grantierra.com
About Gran Tierra Energy Inc.
Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Colombia and Ecuador and will continue to pursue additional growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the TSX and the LSE under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Information on the Company’s website does not constitute a part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.
Gran Tierra’s U.S. Securities and Exchange Commission (“SEC”) filings are available on the SEC website at www.sec.gov. The Company’s Canadian securities regulatory filings are available on SEDAR at www.sedar.com and UK regulatory filings are available on the National Storage Mechanism (“the NSM”) website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Gran Tierra's filings on the SEC, SEDAR and the NSM websites are not incorporated by reference into this press release.
Forward-Looking Statements
This press release contains statements about future events that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). These forward-looking statements are based on certain assumptions made by Gran Tierra based on management's experience and other factors believed to be appropriate. Gran Tierra believes these assumptions to be reasonable at this time, but the forward-looking statements are subject to risk and uncertainties, many of which are beyond Gran Tierra’s control, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements in this press release are the risk factors detailed from time to time in Gran Tierra's periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K for the year ended December 31, 2022 filed February 21, 2023 and its other filings with the SEC. These filings are available on the SEC website at http://www.sec.gov and on SEDAR at www.sedar.com. All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
FAQ
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