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You are at:Home » ARC ENERGY FUND 8 REACHES AGREEMENT FOR THE TAKE-PRIVATE ACQUISITION OF STEP ENERGY SERVICES LTD.
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ARC ENERGY FUND 8 REACHES AGREEMENT FOR THE TAKE-PRIVATE ACQUISITION OF STEP ENERGY SERVICES LTD.

News RoomNews RoomOct 17, 2025 6:19 pm EDT0 ViewsNo Comments7 Mins Read
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CALGARY, AB, Oct. 17, 2025/ CNW/ – ARC Energy Fund 8 Canadian Limited Collaboration, ARC Energy Fund 8 United States Limited Collaboration, ARC Energy Fund 8 International Limited Collaboration and ARC Capital 8 Limited Collaboration (jointly, “ ARC Energy Fund 8“) problem this news release pursuant to National Instrument 62-104– Take-Over Quotes and Company Quotes and National Instrument 62-103– The Early Caution System and Associated Take-Over Quote and Expert Reporting Issues in regard of their holdings in action Energy Providers Ltd. (TSX: ACTION) (“ ACTION“).

ARC Energy Fund 8, a personal equity fund recommended by ARC Financial Corp., is happy to reveal that ARC Energy Fund 8 and 2659160 Alberta Ltd., a corporation completely owned by the minimal collaborations making up ARC Energy Fund 8 (the “ Buyer” and together with ARC Energy Fund 8, the “ Buyer Celebrations“), have actually participated in a conclusive plan contract (the “ Plan Arrangement“) with action, pursuant to which the Buyer Celebrations will obtain all of the provided and impressive typical shares in the capital of action (“ Shares“) that are not presently owned, managed or directed, straight or indirectly, by ARC Energy Fund 8 or ARC Energy Fund 6 Canadian Limited Collaboration, ARC Energy Fund 6 United States Limited Collaboration, ARC Energy Fund 6 International Limited Collaboration, or ARC Capital 6 Limited Collaboration (jointly, “ ARC Energy Fund 6“), for money factor to consider of $ 5.50 per Share, by method of a strategy of plan under area 193 of the Company Corporations Act ( Alberta) (the “ Plan“).

ARC Energy Fund 8 presently holds an aggregate of 26,654,454 Shares, representing roughly 36.57% of the impressive Shares, and ARC Energy Fund 6 presently holds an aggregate of 13,588,546 Shares, representing roughly 18.65% of the impressive Shares. Jointly, ARC Energy Fund 8 and ARC Energy Fund 6, both of which are personal equity funds recommended by ARC Financial Corp., own, control or direct, straight or indirectly, an aggregate of 40,243,000 Shares, representing roughly 55.22% of the overall impressive Shares.

Prior to the execution of the Plan Arrangement, the Buyer Celebrations participated in voting assistance arrangements with: (i) MMCAP International Inc. (“ MMCAP“) on September 24, 2025, in regard of the 16,401,485 Shares held by MMCAP, representing roughly 22.50% of the impressive Shares, (ii) funds recommended by XIB Property Management Inc. (jointly, “ XIB“) on October 7, 2025, in regard of the 4,627,774 Shares held by XIB, representing roughly 6.35% of the impressive Shares, and (iii) Groundlayer Capital Inc. (“ Groundlayer“) on October 9, 2025, in regard of the 1,198,400 Shares held by Groundlayer, representing roughly 1.64% of the impressive Shares, pursuant to which MMCAP, XIB and Groundlayer consented to, to name a few things, vote or trigger to be voted all of the Shares owned, managed or directed, straight or indirectly, by them in favour of the Plan.

In addition, simultaneously with the execution of the Plan Arrangement, the Buyer Celebrations participated in voting assistance arrangements with each of the directors and officers of action (together with MMCAP, XIB and Groundlayer, the “ Locked-Up Investors“), jointly holding 1,176,101 Shares, representing roughly 1.61% of the impressive Shares, pursuant to which each director and officer has actually consented to, to name a few things, vote or trigger to be voted all of the Shares owned, managed or directed, straight or indirectly, by them in favour of the Plan.

Simultaneously with the execution of the Plan Arrangement, ARC Energy Fund 6 likewise participated in a ballot assistance contract with action, pursuant to which it consented to, to name a few things, vote or trigger to be voted all of the Shares owned, managed or directed, straight or indirectly, by ARC Energy Fund 6 in favour of the Plan. ARC Energy Fund 6 is prepared for to keep the 13,588,546 Shares presently held by it, representing roughly 18.65% of the impressive Shares.

The Plan will go through the requirements of Multilateral Instrument 61-101– Defense of Minority Security Holders in Unique Deals (“ MI 61-101“), consisting of the “bulk of the minority” investor approval requirements, and the Company Corporations Act ( Alberta). Shares held by Locked-Up Investors represent roughly 71.71% of the “minority” investors, being all impressive Shares leaving out the 40,243,000 Shares jointly held by ARC Energy Fund 8 and ARC Energy Fund 6. On a combined basis, the Shares held by ARC Energy Fund 8, ARC Energy Fund 6 and the Locked-Up Investors represent roughly 87.33% of the Shares.

The conference of action investors (the “ Action Satisfying“) is anticipated to be hung on December 12, 2025 Closing of the Plan is anticipated to take place on or about December 16, 2025, following the action Satisfying and upon the fulfillment of all conditions precedent, consisting of invoice of the last order of the Court of King’s Bench of Alberta

action’s address is Bow Valley Square II 1200, 205 5 th Ave SW, Calgary, AB T2P 4B9. A copy of ARC Energy Fund 8’s associated early caution report will be submitted with the appropriate securities commissions and will be submitted under action’s SEDAR+ profile at www.sedarplus.ca. More info and a copy of the early caution report of ARC Energy Fund 8 might be gotten by getting in touch with Tanya Causgrove at +1 -403 -292 -0680 (ARC Energy Fund 8, 4300 400 3 rd Ave SW, Calgary, AB T2P 4H2).

RBC Capital Markets is serving as lead monetary consultant and ATB Capital Markets is serving as co-financial consultant to ARC. Norton Rose Fulbright Canada LLP is serving as legal consultant to ARC.

ARC has actually participated in a dedication letter for a completely underwritten dedication of protected senior credit centers to support the Plan, with ATB Financial serving as sole lead arranger and bookrunner.

FORWARD LOOKING DETAILS AND DECLARATIONS

Specific declarations in this news release make up “positive info” or “positive declarations” within the significance of appropriate securities laws (jointly, “ positive declarations“). In many cases, positive declarations are recognizable by the terms utilized, such as “will”, “anticipate”, “prepare for”, “means” or other comparable words recommending future results or an outlook. Positive declarations in this press release consist of, however are not restricted to, reveal and/or suggested declarations referring to: the Plan, consisting of, without constraint, the timing for the action Satisfying and the conclusion of the Plan, the technique by which it will be executed; the expectation that ARC Energy Fund 6 will keep the Shares presently held by it in connection with the Plan; the expectation that all conditions precedent to closing of the Plan will be pleased; and the filing of an early caution report.

The positive declarations included in this news release are based upon a variety of presumptions which might show to be inaccurate. Although ARC Energy Fund 8 thinks that the expectations shown in such positive declarations are sensible based upon the info offered at the time of this news release, unnecessary dependence needs to not be put on any such declarations as ARC Energy Fund 8 can offer no guarantee that such expectations will show to be appropriate. Positive declarations are based upon expectations, quotes and forecasts that include a variety of threats and unpredictabilities which might trigger real outcomes to vary materially from those prepared for by ARC Energy Fund 8 and explained in the positive declarations.

The positive declarations included in this news release is made since the date hereof and, other than as needed by appropriate securities law, ARC Energy Fund 8 carries out no responsibility to upgrade openly or modify any positive declarations or info, whether as an outcome of brand-new info, future occasions or otherwise.

SOURCE ARC Financial Corp.

Source

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