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Midway Energy Ltd
Symbol C : MEL
Shares Issued 85,759,623
Close 2012-04-05 C$ 4.24
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Midway Energy optional settlement rules for April 17-19

2012-04-05 19:26 ET - Miscellaneous

According to the Toronto Stock Exchange, Whitecap Resources Inc. has offered to buy all the outstanding shares of Midway Energy Ltd. Midway shareholders can choose to receive either 0.4802 of a Whitecap share, $4.85 in cash or a combination of cash and shares for each Midway share held. In order to receive the consideration, Midway shareholders must deliver a completed letter of transmittal and election form with their share certificates to Olympia Trust Company in Toronto or Calgary by 5 p.m. (local time) on April 19, 2012, or if the April 20, 2012, annual and special meeting of Midway shareholders is adjourned, on the business day immediately before the meeting date. Midway shareholders will vote on the proposed takeover at the meeting. Holders of Midway shares that do not choose their consideration option before the deadline will receive the cash consideration for 24.7 per cent of their shares and the share consideration for the remaining 75.3 per cent, should the takeover be approved.

The TSX reports that buyers of Midway shares on April 17 and April 18, 2012, that want to choose a consideration option and tender the shares must place their orders for settlement on the next day in cash. Buyers of Midway shares on April 19, 2012, that want to choose a consideration option and tender the shares must place their orders between 9:30 a.m. and 12 p.m. (Toronto time) for settlement on the same day in cash.

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