TORONTO and MARSEILLE, France, March 6, 2024 /CNW/ – Foraco International SA (TSX:FAR) (the “Company” or “Foraco”), a leading global provider of mineral and water drilling services, today announced the termination of the Investor Rights Agreement dated July 7, 2021 among the Company, Oaktree Capital Management, L.P. (“Oaktree”), Kartesia Securities IV S.A (“Kartesia”), Jean-Pierre Charmensat, Daniel Simoncini, and the holding companies of Daniel Simoncini and Jean-Pierre Charmensat (the “Investor Rights Agreement”).
Following the disposition by Oaktree and Kartesia of their ordinary shares of the Company respectively on January 16, 2024 and March 5, 2024, the Investor Rights Agreement was automatically terminated in accordance with its terms. In connection with the termination of the Investor Rights Agreement, Diercxsens Investments & Advisory BV, represented by Jean Diercxsens, resigned from its position as a member of …