Friendly Takeover Info

Attention Savanna Energy Services Shareholders:

Savanna has entered into an Arrangement Agreement to be acquired by Western Energy Services Corp. (TSX–WRG) on the basis of 0.85 of a common share of Western for each outstanding Savanna Share.

The consideration reflects a value of $2.30 per Savanna Share based on the volume weighted average trading price of Western Shares on the Toronto Stock Exchange (the “TSX”) for the ten day period ended March 8, 2017 of $2.71, which represents a 14.5% premium over Savanna’s volume weighted average trading price on the TSX for the same period of $2.01. For more information please see our news release dated March 12, 2017 and our news release dated March 9th. 2017.

The Savanna Board is unanimously recommending that its shareholders vote in favour of the Arrangement Agreement at a meeting of shareholders to be held in May 2017, in order to benefit from the value and opportunity of the pure play combination with Western. The Savanna Board also unanimously recommends that shareholders reject, and not deposit their Savanna Shares to, an inferior unsolicited offer for Savanna from Total Energy Services. Any shares deposited to the Total Offer can be withdrawn by contacting Savanna’s information agent, D.F. King at 1-800-622-1678 or moc.g1490278755nikfd1490278755@seir1490278755iuqni1490278755

For more information please our Notice of Change to Directors’ Circular dated March 9, 2017  or contact D.F. King at 1-800-622-1678 or moc.g1490278755nikfd1490278755@seir1490278755iuqni1490278755

 

For more information contact Savanna’s information agent, D.F. King at 1-800-622-1678 or moc.g1490278755nikfd1490278755@seir1490278755iuqni1490278755

 

Shareholder Disclaimer

Savanna Energy Services Corp. ("Savanna" or "the Company") is a public company trading on the Toronto Stock Exchange under the symbol SVY. Savanna's expectations and predictions for the future are discussed in our press releases, presentations, quarterly and annual reports. Such statements, including statements in this document and the documents listed above that relate to matters that are not historical are forward-looking statements within the relevant securities regulations in Canada and elsewhere. Certain forward-looking statements may constitute projections regarding future events or the future financial performance of Savanna Energy Services Corp. When used in this website, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect" and similar expressions, as they relate to Savanna Energy Services Corp., are intended to identify forward-looking statements. Such statements reflect Savanna Energy Services Corp.'s views at the time such statements are made with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Savanna Energy Services Corp.'s actual results, performance or achievements to vary from those expressed or implied in such forward-looking statements or could affect the extent to which a particular projection is realized.

It is important to take the following factors into consideration when evaluating Savanna Energy Services Corp.

  • The rise and fall in worldwide prices and demand for oil and gas.
  • Changes in the demand for our services, competitors' existence, technological changes and developments in the oilfield services industry.
  • Changes in levels of natural gas and crude oil exploration and development activities.
  • The continuation of operating risks inherent in the oil field services industry.
  • The continuation of regulatory and legislative uncertainties.
  • The change in tax laws.
  • Political instability, war or acts of terrorism in any of the countries in which we do business.
  • General economic conditions.

Savanna's business depends significantly on the level of spending by oil and gas companies for exploration, development and production activities. Sustained increases or decreases in the price of natural gas or oil could materially impact such activities, and thereby materially affect our financial position, results of operations and cash flows.

The above disclaimer outlines the risks and factors which are important to consider.

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