REJECT Ensign's Hostile Bid
Trinidad has a track record of operational excellence, a strong customer base, geographic diversity and a solid financial position and is worth more as an independent company. In the unlikely situation that no value‑maximizing transaction emerges, Shareholders should still REJECT the Ensign Offer.
Among other reasons to REJECT the Ensign Offer:
- It is below the September 11, 2018 closing price of the Trinidad Shares.
- It is an all‑cash offer, which gives Ensign all of the synergies and future growth of the two companies, with no participation for Trinidad’s Shareholders.
- It is lower than Trinidad’s trading price on 90% of trading days year to date.
- It is 61% below the book value of Trinidad’s assets, significantly undervaluing Trinidad’s high quality asset base.
- It is 27% below Trinidad’s historical valuations levels.
- The average 12‑month price target of 10 independent research analysts covering Trinidad is 49% above the Ensign Offer.
Please see below for more details about the Ensign offer and Trinidad's response. We will continue to update this page with new materials as they become available, and we urge our shareholders to return regularly.
|To REJECT the Ensign Hostile Offer, simply take NO ACTION|
|Latest News||Presentation||Directors' Circular|
Please click here to view the presentation on Why Shareholders Should REJECT the Ensign Offer
Please click here to view the Director's Circular to REJECT the Ensign Offer
|Letter to Shareholders||Reasons to Reject||Video Message from President and CEO|
Please click here to view the letter to Shareholders regarding the Ensign Offer
Please click here to view the Reasons to REJECT the Ensign Offer
Please click here to view the video message on reasons to REJECT the Ensign Offer
BNN-Bloomberg Interview with Trinidad’s President and CEO Brent Conway
You should contact D.F. King, the Information Agent retained by Trinidad, with any questions or if you have already tendered your Trinidad shares to the unsolicited hostile Ensign Offer, and would like to withdraw them.
North American Toll-Free Number: 1-866-521-4427
Collect Calls Outside North America: 1-212-771-1133