Encana shareholders vote in favour of move to U.S., renaming of company
Encana shareholders have voted overwhelmingly in favour of the company moving to the U.S. and being renamed Ovintiv Inc.
CALGARY -- Encana shareholders have voted 90 per cent in favour of the company moving to the U.S. and rebranding under the name, Ovintiv Inc., the company announced Tuesday.
The restructuring was first announced in the fall of 2019.
"We are extremely pleased with the vote of confidence from our shareholders today. With 90% of our security holders voting "FOR" the resolution, there is clearly support for our efforts to expose Ovintiv to the deeper pools of capital in the U.S., capturing the value we know exists within our equity," said CEO Doug Suttles in a statement.
"We will continue to focus on innovation and efficiencies throughout our operations, delivering the financial and operational performance our shareholders expect."
Completion of the deal is still subject to other conditions, including final approval of the plan of arrangement by the Court of Queen's Bench of Alberta.