CALGARY, ALBERTA--(Marketwired - June 2, 2014) - ArPetrol Ltd. ("ArPetrol" or the "Company") (TSX VENTURE:RPT) is pleased to announce that it has completed the consolidation (the "Consolidation") of its issued and outstanding common shares (the "Common Shares") on the basis of twenty-five (25) pre-Consolidation Common Shares for each one (1) post-Consolidation Common Share. Approximately 22,901,468 Common Shares are now outstanding and will begin trading on a consolidated basis on the TSX Venture at market open today.
Letters of transmittal with respect to the Consolidation are being mailed to the Company's registered shareholders. All registered shareholders will be required to send their share certificates representing pre-Consolidation Common Shares, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, CST Trust Company ("CST"), in accordance with the instructions provided in the letter of transmittal. All registered shareholders who submit to CST a completed letter of transmittal, along with their respective certificates representing the pre-Consolidation Common Shares, will receive in exchange new certificates representing their post-Consolidation Common Shares. No action is required on the part of shareholders who hold their Common Shares in brokerage accounts or other intermediaries.
No fractional post-Consolidation Common Shares will be issued and Common Shares will be rounded down to the nearest whole number.
ArPetrol is a Calgary-based publicly traded company engaged in oil and natural gas exploration, development and production and third-party natural gas processing in Argentina, where it owns and operates a gas processing facility with capacity of 85 million cubic feet per day. The Company's common shares are listed on the TSXV under the symbol "RPT".
Additional information relating to the Company is also available on SEDAR at www.sedar.com.
ArPetrol's head office address is 700, 815 8 Avenue S.W., Calgary, AB T2P 3P2.
Neither the TSXV nor its Regulation Services Provider (as defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.