Welcome!

News Feed Item

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio and Reports on Voting from the 2014 Shareholders Meeting

CALGARY, ALBERTA -- (Marketwired) -- 05/01/14 -- Bonavista Energy Corporation (TSX: BNP) ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.23098 to 1.23596. This increase will be effective on May 15, 2014 (the "Effective Date").

The following are the details of the calculation of the Exchange Ratio:


----------------------------------------------------------------------------
                                  Five day
                                  Weighted
                                   Average
                                   Trading
                                  Price of
                                 Bonavista
                                    common             Effective    Exchange
Record Date           Bonavista     shares  Increase Date of the Ratio as of
         of  Opening   Dividend  (Prior to        in increase in         the
  Bonavista Exchange per common the end of  Exchange    Exchange   Effective
   Dividend    Ratio      share the Month)  Ratio(1)       Ratio        Date
----------------------------------------------------------------------------
  April 30,                                              May 15,
       2014  1.23098      $0.07     $17.29   0.00498        2014     1.23596
----------------------------------------------------------------------------

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 Valiant Trust Company at its principal transfer office in Suite 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1.

Bonavista also announces that all matters presented for approval at the annual meeting of shareholders held today have been fully authorized and approved. A total of 123,411,497 votes, representing 61.23% of total votes entitled to vote at the meeting, were voted in connection with the matters considered at the meeting.

At the meeting, all of the nominees proposed as directors were duly elected as directors of Bonavista with a majority of votes cast by the shareholders present or represented at the meeting as follows:


Name of Nominee            Votes For Percent (%)  Votes Withheld Percent (%)
----------------------- ------------ ----------- --------------- -----------
Keith A. MacPhail        118,874,268       96.95       3,744,901        3.05
Ian S. Brown             117,420,002       95.76       5,199,167        4.24
Michael M. Kanovsky      121,338,812       98.96       1,280,357        1.04
Sue Lee                  114,074,158       93.03       8,545,011        6.97
Margaret A. Mckenzie     114,889,447       93.70       7,729,722        6.30
Ronald J. Poelzer        120,476,827       98.25       2,142,342        1.75
Christopher P. Slubicki  114,792,471       93.62       7,826,698        6.38
Jason E. Skehar          121,311,419       98.93       1,307,750        1.07

In addition, KPMG LLP, Chartered Accountants, were appointed as auditors of the Corporation to hold office until the next annual meeting, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:


                           Votes For Percent (%)  Votes Withheld  Percent %)
                        ------------ ----------- --------------- -----------
                         123,063,893       99.72         347,604        0.28

Bonavista is a mid-sized energy corporation committed to maintaining its emphasis on operating high quality oil and natural gas properties, providing moderate growth and delivering consistent dividends to its shareholders and ensuring financial strength and sustainability.

Please visit our website at www.bonavistaenergy.com for detailed corporate information.

Contacts:
Bonavista Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO
Ph: (403) 213-4300
www.bonavistaenergy.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
As the rapid adoption of containers continues, companies are finding that they lack the operational tools to understand the behavior of applications deployed in these containers, and how to identify issues in their application infrastructure. For example, how are multiple containers within an application impacting each other’s performance? If an application’s service is degraded, which container is to blame? In the case of an application outage, what was the root cause of the outage?
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
Peak 10, Inc., has announced the implementation of IT service management, a business process alignment initiative based on the widely adopted Information Technology Infrastructure Library (ITIL) framework. The implementation of IT service management enhances Peak 10’s current service-minded approach to IT delivery by propelling the company to deliver higher levels of personalized and prompt service. The majority of Peak 10’s operations employees have been trained and certified in the ITIL frame...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.