Globenewswire·2026-01-23 22:05Core Viewpoint - NuVista Energy Ltd. and Ovintiv Inc. have successfully completed a special meeting where NuVista Shareholders overwhelmingly approved a plan of arrangement involving both companies, with approximately 99% of votes in favor of the transaction [1]. Group 1: Transaction Approval - The Court of King's Bench of Alberta granted the Final Order for the transaction, which is expected to close shortly after receiving approval under the Investment Canada Act [2]. - The transaction involves NuVista Shareholders electing their preferred form of consideration, with a deadline set for January 21, 2026 [3]. Group 2: Consideration Options - NuVista Shareholders had the option to elect to receive: 1. $18.00 (CAD) in cash per NuVista Share (Cash Consideration) 2. 0.344 of an Ovintiv Share per NuVista Share (Share Consideration) 3. A combination of Cash and Share Consideration, subject to a maximum aggregate Cash Consideration of approximately $1.57 billion (CAD) and a maximum aggregate Share Consideration of approximately 30.1 million Ovintiv Shares [4]. - Shareholders who did not make a valid election were deemed to have elected to receive 50% Cash Consideration and 50% Share Consideration [4]. Group 3: Preliminary Election Results - Preliminary results indicate that: 1. Shareholders electing Cash Consideration will receive 100% in cash 2. Shareholders electing Share Consideration will receive approximately 58% in shares and 42% in cash 3. Shareholders who did not make a valid election will receive approximately 71% in cash and 29% in shares [8].