News Releases

Strad Shareholder Transaction

Jun 06, 2014
Strad announces today that funds managed by Richardson Capital Limited (“RCL”), representing the Company’s largest shareholder, agreed to sell 1.75 million shares today at $4.35 per share.

 

CALGARY, ALBERTA – (Marketwired – June 6, 2014)

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Strad Energy Services Ltd., (TSX:SDY) ("Strad" or the "Company"), a North American-focused, energy services company, announces today that funds managed by Richardson Capital Limited (“RCL”), representing the Company’s largest shareholder, agreed to sell 1.75 million shares today at $4.35 per share.

RCL sold a portion of its position today in response to strong overall investor demand with the sale representing approximately 25% of its investment in Strad. RCL remains as the Company’s largest shareholder and continues to hold its remaining 14% interest in the Company as a core investment. RCL is supportive of management and the direction of the Company. Mr. James McCallum, Managing Director at RCL, remains a director of Strad.

ABOUT STRAD ENERGY SERVICES LTD.

Strad is a North American energy services company that focuses on providing well-site infrastructure solutions to the oil and natural gas industry. Strad focuses on providing complete customer solutions in well-site-related oilfield equipment for producers active in unconventional resource plays.

 

Strad is headquartered in Calgary, Alberta, Canada.  Strad is listed on the Toronto Stock Exchange under the trading symbol “SDY”.

For more information, please contact:

Strad Energy Services Ltd.
Andy Pernal
President and Chief Executive Officer
(403) 775-9202
Fax: (403) 232-6901
Email: apernal@stradenergy.com

 

Strad Energy Services Ltd.
Greg Duerr
Chief Financial Officer
(403) 705-4333
Fax: (403) 232-6901
Email: gduerr@stradenergy.com

 

www.stradenergy.com