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The latest update is out from Questerre ( (TSE:QEC) ).
Questerre Energy Corporation shareholders have approved a corporate reorganization that will spin out the company’s Quebec assets via the creation of Series 2 Preferred Shares, which will track the economic performance of those assets, while new Class A common shares will represent ownership of Questerre’s remaining operations. The new common shares will continue trading on the Toronto and Oslo exchanges under existing identifiers, while the company explores listing options for the preferred shares; the reorganization also triggers adjustments to stock options and the introduction of a Series 2 Preferred Share Option Plan. At the same meeting, shareholders confirmed a seven-member board, with five directors elected following the withdrawal of two nominees, reinforcing the company’s governance framework as it restructures its asset base.
The most recent analyst rating on (TSE:QEC) stock is a Hold with a C$0.31 price target. To see the full list of analyst forecasts on Questerre stock, see the TSE:QEC Stock Forecast page.
More about Questerre
Questerre Energy Corporation is an energy technology and innovation company focused on applying its expertise in low permeability reservoirs to acquire high-quality resources and transition its energy portfolio. The company aims to deploy clean technologies and innovative methods to produce and use energy more responsibly, balancing economic, environmental and societal considerations while engaging the public in key energy decisions.
Average Trading Volume: 24,572
Technical Sentiment Signal: Buy
Current Market Cap: C$128.6M
See more data about QEC stock on TipRanks’ Stock Analysis page.