Bellatrix corrects call notice, to pay 134.2047 shares per convertible

By Tali David

Minneapolis, Oct. 15 - Bellatrix Exploration Ltd. corrected the Oct. 11 announcement of its call for 4¾% convertible unsecured subordinated debentures due April 30, 2015, according to a 6-K filed with the Securities and Exchange Commission.

Bellatrix set the number of shares based on a corrected price of C$7.62 per share, calculated as 95% of the volume-weighted average trading price of the company's stock on the Toronto Stock Exchange for the 20 trading days ending on Friday. The price was originally posted as C$8.02.

As a result, holders of debentures who have not elected to convert their debentures prior to the redemption date will receive about 134.2047 common shares for each $1,000 principal amount of debentures. The number of shares was previously stated as 178.5714.

Based in Calgary, Alta., Bellatrix Exploration is an oil and gas exploration and production company.

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