Business

Winnipeg Free Press - PRINT EDITION

EnCana shareholders support splitup plan

By: Staff Writer

26/11/2009 1:00 AM | Comments: 0

CALGARY -- EnCana Corp.'s (TSX:ECA) plans to split itself into two separate companies received such overwhelming support from shareholders Wednesday that even the company's chief executive was caught a bit off guard.

Randy Eresman, who is to head the natural gas-focused company that will emerge from the split, told reporters he knew major shareholders supported the transaction. What he didn't expect was near-unanimous support -- at least 99 per cent -- at a special shareholder meeting in Calgary.

EnCana first announced its plan in May 2008, but in the depths of the recession decided to put the transaction on hold. The plan was revived in September, when the company began to see some signs of stability returning to the global market.

-- The Canadian Press

Republished from the Winnipeg Free Press print edition November 26, 2009 B6

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