British Controlled Oilfields Ltd.

August 03, 2016 14:32 ET

British Controlled Oilfields Ltd. Announces Shareholder Approval of Liquidation

MONTREAL, QUEBEC--(Marketwired - Aug. 3, 2016) -

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British Controlled Oilfields Ltd. ("BCO") announces that at the annual and special meeting of shareholders held today, BCO shareholders adopted a special resolution providing for (a) the voluntary liquidation of BCO pursuant to the Canada Business Corporations Act, through the distribution of its assets to its shareholders, after providing for outstanding liabilities, contingencies and costs of the liquidation, (b) the appointment of a liquidator, if and when deemed appropriate by the board of directors of BCO, and (c) the dissolution of BCO upon completion of all liquidation steps including obtaining clearance certificates from tax authorities. As a result, BCO does not expect to distribute its assets and dissolve before December 31, 2017.

Contact Information

  • British Controlled Oilfields Ltd.
    (514) 871-9571