This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Double Eagle Petroleum Announces Extension Of Preferred Stock Consent Solicitation

DENVER, Nov. 26, 2012 /PRNewswire/ --  Double Eagle Petroleum Co. (NASDAQ: DBLE) announced that it has extended the expiration date of its consent solicitation to amend the articles supplementary for the Company's 9.25% Series A Cumulative Preferred Stock (the "Preferred Stock") to modify the circumstances under which the Preferred Stock would be subject to mandatory redemption following a "change of ownership or control"  (as defined in the articles supplementary) of the Company and to extend the date upon which the Preferred Stock is subject to optional redemption by the Company (subject to an earlier "change of ownership or control") from June 30, 2012 to September 30, 2013.  The purpose of the proposed amendments to the Preferred Stock is to allow the Company more flexibility in pursuing strategic merger and acquisition activities in order to strengthen its position in the oil and gas industry and provide value growth for its shareholders.  

The consent solicitation, initially scheduled to expire at 5:00 P.M. Mountain time on November 26, 2012, will be extended to 5:00 p.m., Mountain time, on December 10, 2012 (that time and date, as so extended, the "Expiration Date").

Except as set forth herein, the complete terms and conditions of the consent solicitation remain the same as set forth in the Consent Solicitation Statement dated October 23, 2012 (the "Consent Solicitation Statement") and the accompanying Consent Letter previously distributed to eligible holders of Preferred Stock.

All holders of the Preferred Stock who have previously delivered a consent in the consent solicitation do not need to redeliver such consents or take any other action. Such holders may revoke their consents prior to the "Consent Date," as defined in the Consent Solicitation Statement. Other holders of Preferred Stock who have not yet delivered a consent should follow the instructions described in the Consent Solicitation Statement and the Consent Letter. Holders of the Preferred Stock are urged to read and carefully consider the information contained in the Consent Solicitation Statement. The Company's obligation to accept consents and to terminate or further extend the consent solicitation remains subject to certain conditions as set out in the Consent Solicitation Statement.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs