News-ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETITSX listing 2 months away.
CALGARY, June 16, 2011 /CNW/ - Valeura Energy Inc. ("Valeura" or the "Corporation") (TSXV: VLE) announces that, at its annual general and special meeting of shareholders of the Corporation held on June 15, 2011, shareholders approved the consolidation of the Corporation's issued and outstanding common shares on the basis of one post-consolidation common share for each ten pre-consolidation common shares (the "Share Consolidation").
Following the successful results of the shareholder meeting, the Board of Directors of the Corporation approved proceeding to seek graduation of the Corporation to the Toronto Stock Exchange (the "TSX") from the TSX Venture Exchange and, upon approval by the TSX, the Corporation intends to complete the Share Consolidation at the time the
Corporation's shares become listed on the TSX. The Corporation
expects to submit an application to graduate to the TSX as soon as possible, and the process for approval is anticipated to take approximately two months.
At the annual and special meeting, the shareholders also approved the other matters presented for approval including the election of Abdel Badwi, William Fanagan, Claudio Ghersinich, James McFarland, Kenneth McKay and Ronald Royal as directors of the Corporation, the appointment of KPMG LLP as the Corporation's auditor and the approval of the Corporation's existing stock option plan and existing performance share unit plan.
ABOUT THE CORPORATION
Valeura Energy Inc. is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey and Western Canada.