Forest begins odd-lot sales program

Petroleum News - Alaska Staff

Forest Oil said Jan. 15 that it has begun a voluntary odd-lot sales program which will run through Feb. 15 allowing shareholders owning 99 or fewer shares to Forest common stock to sell all of their shares to the company.

Forest said the program is designed to provide odd-lot shareholders an economical and convenient means of selling their shares and it expected to reduce the company’s annual shareholder servicing costs.

Shareholders will receive a price per share equal to the average of the daily closing prices of Forest common stock during the sales period.