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Lone Pine Resources announces filing of restructuring plan supplement


Published Jan 2, 2014
Lone Pine Resources Inc.

Lone Pine Resources Inc. announced that the Company and its subsidiaries have filed with the Court of Queen's Bench of Alberta (the "Court") a supplement (the "Plan Supplement") to its previously-filed plan of compromise and arrangement under the Companies' Creditors Arrangement Act ("CCAA"), together with an amended and restated plan of compromise and arrangement (as amended, the "Plan") giving effect to certain amendments referred to in the Plan Supplement.

The Plan Supplement supplements the Plan by providing further information regarding the rights, privileges, restrictions and conditions that will be attached to each class of equity securities to be issued by the Company and its subsidiary, Lone Pine Resources Canada Ltd. ("LPR Canada") pursuant to the Plan; a description of certain shareholder protections and other provisions, including drag-along, tag-along, pre-emptive, registration and piggy-back rights, to be included in the constating documents of the Company and LPR Canada upon implementation of the Plan; a draft of the Court order to be sought by the Company sanctioning and approving the Plan; and a description of certain proposed amendments to the Plan providing for, among other things, a potential, conditional cash distribution to holders of the existing common stock of Lone Pine ("Existing Common Shares"). A copy of the amended and restated Plan is included as a schedule to the Plan Supplement.

Tags: Lone Pine Resources Inc.




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