Encana Receives Approval for Reorganization, Name Change and Relocation
Encana Corp. announced that it will be rebranding as Ovintiv Inc. and it will relocate its corporate headquarters to the United States. The company, formerly headquartered in Calgary, Alberta, announced Jan. 14 that its securityholders voted in support of the reorganization resolution, which also included the consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana. The approval was made at its Special Meeting of Securityholders held on Jan. 14.
“We are extremely pleased with the vote of confidence from our shareholders today. With 90 percent of our securityholders voting for the resolution, there is clearly support for our efforts to expose Ovintiv to the deeper pools of capital in the U.S., capturing the value we know exists within our equity,” said CEO Doug Suttles. “We will continue to focus on innovation and efficiencies throughout our operations, delivering the financial and operational performance our shareholders expect.”
Detailed voting results for the meeting are available under Encana’s profile on SEDAR at sedar.com and on the Securities and Exchange Commission (SEC) website at sec.gov. Completion of the reorganization is still subject to other conditions to closing, including final approval of the plan of arrangement by the Court of Queen’s Bench of Alberta. Further information regarding the reorganization is provided in Encana’s proxy statement/management information circular and prospectus dated Dec. 11, 2019 in respect of the meeting.
Further information on Encana Corporation is available on the company’s website, encana.com.
Tags: Encana Corp., Ovintiv Inc.
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