CALGARY, AB, April 29, 2024 /CNW/ - SECURE Energy Services Inc. ("SECURE") (TSX: SES), announced today that it has entered into an agreement (the "Purchase Agreement") with an affiliate (the "Selling Shareholder") of TPG Angelo Gordon (collectively with its affiliated entities, "TPG Angelo Gordon") to purchase for cancellation an aggregate of 13,181,020 common shares in the capital of SECURE (the "Shares") at a price of $11.38 per Share (representing a discount of approximately 1.8% to the closing price of the Shares on the Toronto Stock Exchange (the "TSX") on April 26, 2024), for gross proceeds to the Selling Shareholder of approximately $150 million (the "Share Repurchase Transaction"). As a result of the Share Repurchase Transaction, TPG Angelo Gordon's ownership in SECURE will be reduced from 52,529,667 Shares to 39,348,647 Shares (representing a decrease from approximately 19.01% to approximately 14.96% of the issued and outstanding Shares after giving effect to the Share Repurchase Transaction).
Read more at newswire.caSECURE ANNOUNCES REPURCHASE OF 4.77% OF ITS OUTSTANDING SHARES AND INTENTION TO COMMENCE SUBSTANTIAL ISSUER BID
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