Gran Tierra Energy filed a proxy statement with the U.S. Securities and Exchange Commission on September 15 seeking shareholder approval for the sale of its Colombian and Ecuadorian operations to Maurel & Prom for approximately $1.33 billion, subject to customary adjustments. The board of directors unanimously recommends that shareholders approve the transaction.
The share sale and purchase agreement was entered into on August 5. The record date for determining voting eligibility is September 14, and proxy materials are expected to be delivered to shareholders by the following Tuesday. A virtual‑only special meeting is scheduled for October 9 at 10:00 a.m. Mountain Time; votes must be submitted by 10:00 a.m. Mountain Time on October 8.
Approval of the sale requires a majority of the outstanding shares entitled to vote. In addition to the main proposal, shareholders will vote on an advisory resolution concerning transaction‑related executive compensation and a proposal to adjourn the meeting if necessary to solicit additional proxies.
Gran Tierra also completed a consent solicitation from holders of its 9.750% senior secured amortizing notes due 2031 to amend the indenture, a step that satisfies a closing condition allowing a Maurel & Prom subsidiary to assume the notes upon closing. Remaining steps to finalize the deal include securing shareholder approval at the special meeting and obtaining regulatory approvals in Colombia and Ecuador.
