Strathcona Resources Secures Court Approval for $2.14 Billion Special Distribution to Shareholders

Strathcona Resources Secures Court Approval for Special Distribution

Strathcona Resources Ltd., a notable player in the North American heavy oil sector, has recently declared a monumental decision that is set to impact its shareholders significantly. On November 28, 2025, the Court of King's Bench of Alberta granted a final order that approves Strathcona's previously announced plan for a special distribution. This arrangement will see the company distribute an impressive $10.00 per share, totaling approximately $2.14 billion to its loyal shareholders.

This special distribution, which has already gained the green light from shareholders during a recent meeting, represents a strategic move to reward those who have placed their trust and investments in Strathcona. The company is a well-regarded entity within the heavy oil arena, focusing on both thermal oil production and enhanced oil recovery strategies. This payout is expected to be executed on December 22, 2025, marking a significant date in the company's timeline.

Shareholders have options regarding how to receive this distribution. They may choose to treat it as a return of capital by adhering to the guidelines presented in Strathcona’s management information circular dated October 28, 2025. This circular can be accessed through Strathcona’s profile on SEDAR+ or on their official website, allowing stakeholders to familiarize themselves with the required procedures.

Importantly, the cutoff for any electing process will be at 5:00 PM Calgary time on December 16, 2025. After that, shareholders who have decided to opt-out of the election process will automatically receive their distribution as a regular dividend, unless they are registered shareholders whose common shares are represented by physical certificates.

As the distribution date nears, the procedures for beneficial shareholders will entail receiving their payments through their respective intermediaries—typically banks, securities brokers, or other financial entities. These payments are slated to occur on or after December 22, 2025, and Odyssey Trust Company will facilitate the payment for registered shareholders promptly following this date.

Notably, when the special distribution is completed, changes will occur regarding the common shares of Strathcona. Shareholders can anticipate new CUSIP and ISIN numbers being assigned to Strathcona's common shares, which will shift to these new identifiers post-distribution. Until the close of business on December 22, 2025, shares will continue trading under the existing CUSIP and ISIN numbers, representing entitlement to the special distribution. After this date, trading will resume under the new identifiers, indicating no further entitlement related to the special distribution.

As this significant financial maneuver unfolds, shareholders are strongly encouraged to consult with their financial advisors or brokers to navigate the implications of trading Strathcona’s common shares, particularly in the timeframe between December 16 and December 22, 2025.

The management at Strathcona urges all shareholders to reach out should they have questions about executing the election form for the special distribution. Those interested can contact Odyssey Trust Company directly through the provided contact numbers.

Strathcona stands out as one of the fastest-growing heavy oil producers, relying on its innovative methods to amalgamate and develop long-lasting assets. With its shares symbolized as SCR on the Toronto Stock Exchange (TSX), this recent approval marks a pivotal moment in the company’s growth trajectory.

For ongoing updates about Strathcona, stakeholders are encouraged to visit their official website for comprehensive information and resources related to the company’s operations and future plans.