Vermilion Energy Reduces Stake in Coelacanth Through Significant Share Divestment

Vermilion Energy Inc. (VET, VET.TO) has completed a substantial reduction in its ownership position of Coelacanth Energy Inc., decreasing its shareholding from approximately 15.0% to 10.2% of the company’s outstanding shares through a series of privately negotiated transactions.

The divestment involved the transfer of 26 million common shares at $0.76 per share, generating gross proceeds of $19.76 million. Prior to this transaction, the energy company maintained 80.18 million shares in Coelacanth Energy. Following the completion of these sales, Vermilion’s stake now comprises 54.18 million common shares.

Due to the magnitude of the transaction—exceeding 2% of Coelacanth Energy’s total issued and outstanding shares—Vermilion was obligated to make a public disclosure filing. This regulatory requirement ensures transparency regarding significant changes in major shareholdings within the publicly traded company.

As part of the amended agreement between the two companies, Vermilion Energy has agreed to certain restrictions on future dispositions. Specifically, the company may not divest more than 4 million of its remaining shares without obtaining explicit approval from Coelacanth Energy Inc. This provision protects the company’s interest in maintaining stable long-term ownership among key stakeholders.

Disclaimer: This information represents factual reporting of market transactions and does not constitute investment advice or reflect institutional positions.