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CALGARY, Alberta, Nov. 15, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“ Delphi ” or the “ Company ”) is pleased to announce that at the meetings (the “ Meetings ”) of holders of the Company’s 10.00% Senior Secured Notes due 2021 (the “ Noteholders ”) and holders of the Company’s common shares (“ Shareholders ”) held today, the Noteholders and Shareholders approved the Company’s previously announced recapitalization transaction to be implemented pursuant to a plan of arrangement (the “ Plan of Arrangement ”) under the Canada Business Corporations Act (the “ CBCA ”). Additionally, at the meeting of Shareholders, the Shareholders approved the continuance of Delphi into the federal jurisdiction of Canada under the CBCA (the “ Continuance ”) and the previously announced private placements of equity subscription receipts and note subscription receipts of Delphi (the “ Private Placements ”). The Company completed the Continuance effective today. Approval of the Plan of Arrangement At the Meetings, 99.98% of the votes cast by Noteholders and 99.05% of the votes cast by Shareholders were voted in favour of the Plan of Arrangement. Additionally, 98.93% of the votes cast by Shareholders were voted in favour of the Continuance and 97.93% of […]
