CHECK OUT THIS SEE THOROUGHLY AS IT MIGHT AFFECT YOUR RIGHTS
TORONTO, Sept. 15, 2025/ PRNewswire/– This Notification is directed to all individuals and entities, leaving out specific individuals connected with the Offenders, any place they might live or be domiciled, who bought or otherwise gotten Ithaca Energy Inc., now called Ithaca Energy Limited (” Ithaca”) typical shares in the secondary market, on or after October 9, 2014, and held some or all of those securities up until after the close of trading on February 24, 2015 (” Class Members” and the “Class”).
FUNCTION OF THIS NOTIFICATION
A class action induced behalf of Class Members has actually been settled. The Settlement has actually been authorized by the Alberta Court of King’s Bench. This Notification supplies Class Members with details about how to send a Claim Type to the Administrator in order to take part in the circulation of the Net Settlement Quantity.
THE ACTION
On Might 26, 2015, a proposed class action was begun on behalf of financiers who bought Ithaca typical shares in the secondary market throughout the Class Duration, versus Ithaca in the Alberta Court of King’s Bench: Stevens v. Ithaca Energy Inc. ( now, Ithaca Energy Limited) Court File no. 1501-05830 (the “ Action“). The Complainant in the Action declares that the Offenders made misstatements throughout the Class Duration associated to Ithaca’s overseas oil and gas company and operations worrying: (1) product adjustments to its drifting production center, the FPF-1; and (2) matching 2015 pro forma production and profits forecasts for the Greater Stella Location in the Central North Sea. Ithaca rejects all such claims.
The settlement of the Action, without an admission of liability on the part of the Accused, was authorized by The Honourable Justice Neufeld on August 7, 2025 This notification supplies a summary of the settlement.
SUMMARY OF THE SETTLEMENT TERMS
Ithaca’s insurance providers will pay CAD $ 9 million (the “Settlement Quantity”), completely and last settlement of all claims versus Ithaca in the Action. Class Counsel Charges, consisting of out-of-pocket expenditures and taxes, were repaired by the Court as a very first charge on the Settlement Quantity in the quantity of thirty (30) percent of CAD $ 9 million, plus dispensations, plus taxes. The settlement for the Class, less the Class Counsel Charges and dispensations, administrator’s expenditures, and taxes, will be dispersed to the Class in accordance with the Court-approved Strategy of Allotment. The Settlement Contract and Strategy of Allotment might be seen at https://bergermontague.ca/cases/ithaca-energy-inc/ and https://jssbarristers.ca/class-actions/ithaca-energy-inc/
HOW TO MAKE A CLAIM FOR PAYMENT:
DECLARES FOR PAYMENT MUST BE GOTTEN BY
Each Class Member should send a finished Claim Type on or before January 5, 2026 in order to take part in the settlement. The Claim Type can be accessed or downloaded at https://bergermontague.ca/cases/ithaca-energy-inc/ or acquired by calling the Administrator at 647.598.8772 ext 2. If you do not send a finished Claim Type by January 5, 2026, you will not get any part of the Net Settlement Quantity.
The Court designated Berger Montague (Canada) PC as the Administrator of the settlement to, to name a few things: (i) get and process Claim Types; (ii) choose eligibility for settlement; and (iii) disperse the net Settlement Total up to qualified Class Members. The Claim Type need to be sent to the Administrator by utilizing the protected Online Claims System at https://bergermontague.ca/cases/ithaca-energy-inc/ and https://jssbarristers.ca/class- actions/ithaca-energy-inc/ You might send a paper Claim Type just if you do not have web gain access to. The paper Claim Type might be sent out by mail or carrier to:
Ithaca Administrator
330 Bay Street, Suite 505
Toronto, ON M5H 2S8
Email: info@bergermontague.ca
CONCERNS
Concerns for the Class Members’ attorneys might be directed to:
Berger Montague ( Canada) PC
330 Bay Street, Suite 505
Toronto, ON M5H 2S8
Tel: (647) 598-8772
Email: info@bergermontague.ca
JSS Lawyers
304 8 Ave SW # 800,
Calgary, AB T2P 1C2
Tel: 403-571-0747
Email: priceg@jssbarristers.ca
ANALYSIS
If there is a dispute in between the arrangements of this Notification and the Settlement Contract, the regards to the Settlement Contract will dominate.
This notification has actually been authorized by the Court. Concerns about matters in this notification need to NOT be directed to the Court.
SOURCE Berger Montague