This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:EnCana mails arrangement circular on split 2009-10-29 17:58 ET - News Release Mr. Paul Gagne reports ENCANA MAILS ARRANGEMENT CIRCULAR
EnCana Corp. has commenced mailing the
arrangement circular to shareholders for the proposed corporate
reorganization to split EnCana into two highly focused energy companies:
Cenovus Energy Inc., an integrated oil company, and EnCana Corporation, a
pure-play natural gas company. The arrangement circular for the
meeting of shareholders planned for Nov. 25, 2009, is expected to be
available on SEDAR's website,
on EDGAR's website and on EnCana's website by Friday, Oct. 30, 2009.
Under the arrangement, common shareholders of EnCana will own one new
EnCana common share, which will continue to be represented by existing
EnCana common share certificates, and will receive one common share of
Cenovus for each EnCana common share held on Dec. 7, 2009, the
anticipated distribution record date. On Sept. 30, 2009, EnCana had
751,223,909 common shares issued and outstanding. Based on this number
and following completion of the arrangement, Cenovus would also have
751,223,909 common shares issued and outstanding.
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