At the special meeting of the Company's shareholders, a total of 308,298,767 common shares were voted in person and by proxy, representing 55.04% of its issued and outstanding common shares. The Arrangement was approved by 87.25% of the votes cast by shareholders at the special meeting.
At the special meeting of the Company's secured debtholders, 39 debtholders voted in favour of the Arrangement in person and by proxy holding an aggregate of
Details of the voting results for the special meetings are available on SEDAR at www.sedar.com.
Shareholders are advised that, subject to receipt of a final order from the Court of Queen’s Bench in respect of the Arrangement, the Arrangement is expected to close on or about
Grand Valley Litigation
Pengrowth also announced today that the Court of Queen’s Bench of
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ADVISORIES
Forward Looking Statements
Certain information set forth in this press release, including Information and statements which may contain words such as "could", "plans", "should", "anticipates", "expects", "believes”, "will" and similar expressions and statements relating to matters that are not historical facts, contain forward-looking statements, including but not limited to statements regarding: the proposed Arrangement; closing of the Arrangement, including expected timing thereof; the consideration to be received by the shareholders of Pengrowth; the GVR Litigation and the potential costs associated with the GVR litigation proceeds. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Pengrowth's control. Completion of the Arrangement is subject to a number of conditions which are typical for transactions of this nature. Failure to satisfy any of these conditions or the emergence of a superior proposal may result in the termination of the arrangement agreement. The foregoing list is not exhaustive. Additional information on these and other risks that could affect completion of the Arrangement is set forth in the management information circular, which is available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The actual results, performance or achievement of Pengrowth could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Pengrowth will derive therefrom. Pengrowth 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 required by applicable securities laws.
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Source:
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