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Encana Receives Security Holder Approval for Reorganization

Gasoil News - Published on Fri, 24 Jan 2020

Image Source: Encana Ovintiv Inc
Encana Corporation announced that its security holders voted in support of the reorganization resolution, in order to: (i) establish the company's corporate domicile in the US (ii) rebrand under the name Ovintiv Inc and (iii) complete a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana.

CEO Doug Suttles said "We are extremely pleased with the vote of confidence from our shareholders today. With 90% 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 US capturing the value we know exists within our equity. We will continue to focus on innovation and efficiencies throughout our operations, delivering the financial and operational performance our shareholders expect."

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Posted By : Yogender Pancholi on Fri, 24 Jan 2020
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