Calfrac Well Services Ltd T.CFW

looks like we have to wait for meeting on vote, stk up

[Geodan2]

Stock up but on tiny volume

[JFKFKJGKF]

This post has been removed in accordance with Community Policy

[Geodan2]

So another 5 hours or so

[BobTheKnob2]

The results are in. Management Proposal passes. See partial press release below: CALGARY, AB , Oct. 16, 2020 /CNW/ - Calfrac Well Services Ltd. (" Calfrac " or the " Company ") (TSX: CFW) today announced that Calfrac's Shareholders and Unsecured Noteholders have overwhelmingly approved the Company's Amended Recapitalization

[BobTheKnob2]

WilksBrother own about $90M worth of debt that was unaddressed in Management Proposal. Plus they owned a large number of common shares. What comes next will not be be pretty. Grab your popcorn, find a comfortable seat. . .

[Geodan2]

I voted againist.  Was it just the noteholders and insiderrs that passed it?  .18 vs .05 seems an easy choice, plus if Wilks did win that big incentive to make the stock worth something. hard to understand why any shareholder would be aganist, but only 4% did?? I told their people, why not just buy up all teh stock they could at .13 on market.  BobTheKnob2 any ideas why only 4

[Geodan2]

Sorta a double negative, meant why only 4% voted Wilks side

[BobTheKnob2]

There has obviously been some heavy wordsmithing and slanting of truth - all to make the management propsal to look better. Read the following closely, especially the highlighted part - none of the Wilks Brothers votes were recorded. At the meeting of Shareholders held today, each of the resolutions in connection with the approval of the Amended Recapitalization Transaction was approved. 

[BobTheKnob2]

What is not talked about, but should be is how this management proposal benefits a direct competitor - Trican Well Services. This is entoirely due to the fact that George and Sime Armoyan of G2S2 Investments Inc. control more than 10% of Trican (see below) Filed 2020-06-30 17:35   Tx date 2020-06-30 $TCW Trican Well Service Ltd.