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Stock Market & Financial Investment News

News Breaks
January 24, 2013
13:10 EDTEQUEqual Energy files suit against Nawar Asaadi, Adam Goldstein
Equal Energy has initiated legal proceedings against Mr. Nawar Alsaadi and Dr. Adam Goldstein on the grounds of their repeated and flagrant violation of disclosure requirements under US securities laws. Don Klapko, Equal's President and CEO, said: "Equal is not seeking to prevent Mr. Alsaadi and Dr. Goldstein from expressing their opinions or properly communicating with other shareholders. However, we are committed to protecting the interests of all our shareholders. We have filed this suit to ensure that Mr. Alsaadi and Dr. Goldstein provide the level of transparency to all other shareholders required by law."
News For EQU From The Last 14 Days
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July 31, 2014
16:46 EDTEQUEqual Energy, Petroflow announce defeasance of debentures, relief application
Petroflow Energy and Equal Energy announced that, in connection with the acquisition of Equal by Petroflow by way of plan of arrangement completed earlier, Equal has defeased all of the outstanding 6.75% convertible, unsecured, junior, subordinated debentures due March 31, 2016 by depositing cash, in trust with the trustee under the indenture governing the debentures, sufficient to fully pay, satisfy and discharge all obligations under the debentures. The completion of the arrangement constitutes a change of control under the indenture. As a result, pursuant to its obligations under the indenture, Equal will be offering to repurchase debentures at a purchase price equal to 101% of the principal amount thereof plus accrued interest, subject to the terms and conditions set out in the indenture. Holders that do not accept the change of control purchase offer shall be entitled to continue to receive interest on the debentures until they are redeemed at par on March 31, 2016 in accordance with the provisions of the indenture.

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