VAALCO Energy (EGY) Announces Redemption of Rights Under Plan
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VAALCO Energy, Inc. (NYSE: EGY) announced that its Board of Directors has determined to redeem the rights issued under the Company's stockholder rights plan. This follows the Board's previously announced decision to submit the plan for ratification at the Company's 2009 Annual Meeting.
Pursuant to the redemption, all holders of record of VAALCO's common stock at the close of business on July 24, 2009, the record date, will receive a one time cash distribution of $.001 per share, as provided under the plan.
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