April 25, 2018 6:33 PM ET

Energy Equipment and Services

Company Overview of Savanna Energy Services Corp.

Company Overview

Savanna Energy Services Corp. operates as a drilling, well servicing, and oilfield rental company in Canada, the United States, and Australia. The company offers contract drilling services through its triple, single, telescopic double, and hybrid drilling rigs; and well servicing and rental equipment to the oil and gas industry. It operates a fleet of approximately 100 drilling rigs and 80 well service rigs. The company was founded in 1970 and is headquartered in Calgary, Canada. As of April 27, 2017, Savanna Energy Services Corp. operates as a subsidiary of Total Energy Services Inc.

311-6th Avenue S.W.

Suite 800

Calgary, AB T2P 3H2

Canada

Founded in 1970

1,433 Employees

Phone:

403-503-9990

Fax:

403-503-0654

Key Executives for Savanna Energy Services Corp.

President and Director
Age: 49
Interim Chief Financial Officer and Vice President of Finance
Age: 38
Operations Director
Corporate Secretary
General Counsel
Compensation as of Fiscal Year 2017.

Savanna Energy Services Corp. Key Developments

Savanna Energy Services To Be Deleted From Other OTC

Savanna Energy Services Corp’s common shares (Canada) will be deleted from Other OTC, effective June 26, 2017. The deletion was due to Acquisition/Merger/Amalgamation.

Savanna Energy Services Expects To Be Delisted From The TSX Effective Immediately Following The Close Of Trading On June 20, 2017

Total Energy Services Inc. and Savanna Energy Services Corp. announced that Total Energy has completed its acquisition of Savanna. At a special meeting held on June 20, 2017 in Calgary, Alberta, the holders ("Savanna Shareholders") of common shares of Savanna ("Savanna Shares") overwhelmingly approved the amalgamation (the "Amalgamation") of Savanna and 2043324 Alberta Ltd. ("Subco"), a wholly-owned subsidiary of Total Energy, with 99.99% of shares voted cast in favor of the Amalgamation. The Savanna Shares are expected to be delisted from the TSX effective immediately following the close of trading on June 20, 2017.

Savanna Shares To Cease Trading On The Toronto Stock Exchange Upon Approval Of Amalgamation Resolution

Savanna Energy Services Corp. and Total Energy Services Inc. announced that they have entered into an amalgamation agreement with 2043324 Alberta Ltd., a wholly-owned subsidiary of Total Energy, under which Savanna will amalgamate with 2043324, with the amalgamated entity ('Amalco') becoming an wholly-owned subsidiary of Total Energy (the 'Amalgamation'). The Amalgamation, which is subject to the approval of the holders of common shares of Savanna (the 'Savanna Shares'), will constitute the subsequent acquisition transaction proposed by Total Energy in order to acquire all of the Savanna Shares that Total Energy did not acquire under its offer to purchase all of the outstanding Savanna Shares, which expired on April 27, 2017 or pursuant to purchases of Savanna Shares by Total Energy in market transactions. A special meeting of the Savanna Shareholders has been on June 20, 2017 to consider, and if thought advisable, pass a special resolution in relation to the Amalgamation. The Amalgamation Resolution must be passed by 66 2/3% of the votes cast by Savanna Shareholders, voting in person or by proxy at the Meeting. As Total Energy intends to vote the Savanna Shares held by it in favour of the Amalgamation Resolution, and, under applicable securities laws, all such votes, other than votes attributed to the Market Purchase Savanna Shares are entitled to be counted in respect of the Amalgamation Resolution at the Meeting, it is anticipated that the Amalgamation will be approved and take effect on or about June 20, 2017. At that time, Amalco will become a wholly owned subsidiary of Total Energy, the Savanna Shares will thereafter cease to trade on the Toronto Stock Exchange and Savanna will apply to cease to be a reporting issuer under applicable securities laws as soon as reasonably practicable following the Effective Date.

Similar Private Companies By Industry

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 19, 2017
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