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Painted Pony Petroleum Announces Conversion of Class B Shares to Class A Shares |
November 24, 2011
CALGARY, ALBERTA--(Marketwire - Nov. 23, 2011) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX VENTURE:PPY.A) (TSX VENTURE:PPY.B) announces the conversion of all existing Class B Shares of the Company into Class A Shares of the Company, as permitted by the terms of the Class B Shares set forth in the Company's articles. The effective date of the conversion will be December 1, 2011. Pursuant to the Company's articles, Painted Pony shall provide formal written notice to each holder of Class B Shares of the conversion at least five days prior to the effective date. On the effective date, the holders of Class B Shares will receive 0.8250 of a Class A Share for each one (1) Class B Share held, resulting in an aggregate of up to 968,220 Class A Shares being issued, subject to rounding adjustments. No fractional Class A Shares will be issued; however, any fractional interest in a Class A Share will be rounded up to the next whole number of Class A Shares. The closing price of the Class A Shares on the TSX Venture Exchange on November 23, 2011 was $11.12.
http://www.marketwire.com/mw/release.do?id=1590772&sourceType=3
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