CALGARY, May 1, 2018 /PRNewswire/ - OBSIDIAN ENERGY LTD.
(TSX/NYSE – OBE) ("Obsidian Energy", the "Company",
"we", "us" or "our") received notification
from the New York Stock Exchange (the "NYSE") that we have
regained compliance with the NYSE's continued listing standard
regarding the price of Obsidian Energy's common stock.
The Company had received notification regarding the price
deficiency on March 12, 2018. The NYSE requires that the
average closing price of a listed company's common stock be no less
than US$1.00 per share over a consecutive 30 trading day
period and close above US$1.00 per share on the last
trading day of the month to regain compliance. The Company has been
notified by the NYSE that it has cured the price condition and
regained compliance with all NYSE continued listing requirements as
of April 30, 2018.
As outlined in our Management Information Circular and Proxy
Statement, the Company will withdraw the share consolidation
proposal at the Annual and Special Meeting on May 11, 2018 (the "Meeting") based on the
Company regaining compliance with the NYSE's continued listing
standard. The withdrawal of this resolution will not affect the
validity of the form of proxy enclosed with the Meeting materials,
nor the validity of any proxy that has been otherwise already
properly submitted. Shareholders still wishing to complete and
submit a proxy in relation to the Meeting do not need to indicate
their voting instructions on the resolution regarding the share
consolidation.
First Quarter Results & Meeting Details
The Company will be releasing its 2018 first quarter financial
and operational results before markets open on Friday May 11, 2018. There will be no conference
call accompanying the release, as the Company's Meeting is
scheduled at 10:00 a.m. MDT
(12:00 p.m. EDT) later that morning.
The Meeting will be held in the Acadia Ballroom of the Marriott
Downtown Hotel, located at 110 - 9th Avenue SE Calgary, Alberta.
At approximately 10:10 a.m. MDT,
and following the formal portion of the Meeting, Mr. David French, President and CEO, will address
shareholders and discuss the Company's 2018 first quarter financial
and operational results. The Company will host a question and
answer period subsequent to the presentation.
To listen to a live broadcast of the presentation and the
question and answer period, please access the following URL:
https://event.on24.com/wcc/r/1652072/0971A412DE063422C87144C72F6938B1
A replay of the audio webcast will be available two hours after
the meeting on our website at www.obsidianenergy.com.
Electronic copies of our Management Information Circular, Proxy
Statement, financial statements, news releases, and other public
information are available on our website at www.obsidianenergy.com,
on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov.
Obsidian Energy shares are listed on the Toronto Stock Exchange
and the New York Stock Exchange under the symbol "OBE".
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SOURCE Obsidian Energy Ltd.