ShaMaran Announces Shareholder Approval for Primary Listing in Oslo and Corporate Continuance to Bermuda

Executive Summary

• Shareholders approved the continuance of ShaMaran Petroleum Corp. from Canada to Bermuda and the delisting of its TSX Venture Exchange (TSXV) shares.
• The company will seek a primary listing on Euronext Growth Oslo (EGO) and retain its secondary listing on Nasdaq First North via Swedish Depositary Receipts (SDRs).
• A DSU Plan amendment was also approved, allowing the board to modify all outstanding deferred share unit agreements.

Key Details

• Delisting Approval: 99.53% of votes cast supported the voluntary delisting from TSXV.
• Continuance to Bermuda: 99.53% of votes cast (excluding promoters, directors and officers) approved moving the corporate domicile to Bermuda under the name ShaMaran Petroleum Ltd.
• DSU Plan Amendment: 99.03% of votes (excluding DSU holders) authorized amendment of all outstanding deferred share unit grant agreements.
• Regulatory Actions: The company will apply for an order to cease being a reporting issuer in all Canadian jurisdictions, pending approval.
• Future Listing Plans: Subject to bond documentation conditions precedent and market conditions, ShaMaran intends to list on Euronext Growth Oslo (EGO) and maintain its Nasdaq First North SDR listing.
• Timeline Update: The company will provide further updates on the expected timeline for completing these transactions.

Notable Quotes

(No direct quotes were provided in the release.)