17/12/10
Toreador Resources Corporation, an international oil and gas, exploration and
production company active in the Paris basin, France, completed its Fast Path
listing on NYSE Euronext in Paris today, making it the tenth(*) company to take
advantage of this streamlined, cost-effective process since it was made
available by NYSE Euronext in 2008.
Toreador Resources Corporation’s (ticker symbol: TOR) Common Stock was
admitted to Listing and Trading on the Professional Segment of NYSE Euronext in
Paris by direct listing of the existing 25,828,705 shares making up the
company’s capital stock. The admission price of the company’ shares was set at
€11.56 each, i.e. the closing price of its shares on 16 December 2010
converted into Euros on the basis of the European Central Bank EUR/USD exchange
rate of the same trading day. Toreador Resources’ market capitalization on the
day of admission amounted to €299 million.
“We are very pleased to welcome Toreador Resources Corporation on NYSE
Euronext in Paris and to give the company greater access to European and other
international investors in the Eurozone,” said Ronald Kent, Group Executive
Vice President and Head of International Listings at NYSE Euronext. “This
success bears out the global strategy towards international listings we set up
two years ago and the superior services, market quality and brand visibility
provided by listing on NYSE Euronext markets. ”
Craig McKenzie, President and CEO of Toreador Resources Corporation, added:
“In addition to providing increased accessibility and improved liquidity for
European investors, our listing in Paris reflects Toreador’s next step in the
creation of a European-focused EP company. With an asset base currently
focused on the Paris Basin, we look forward to the broader participation of
European investors as we embark on a six well drilling program to evaluate the
Liassic shale oil source rock system in early 2011 with our partner Hess.”
(*) Companies that have already used the Fast
Path listing procedure include: Philip Morris International (PM, NYSE Euronext
– March 2008), Anheuser-Busch (BUD, NYSE Euronext – April 2008), Companhia
Vale do Rio Doce (VALE, NYSE Euronext – July 2008), Cliffs Natural Resources (CLF,
NYSE Euronext – April 2009), Weatherford International (WFT, NYSE Euronext –
October 2009), PartnerRe (PRE, NYSE Euronext – December 2009), AgFeed
Industries, Inc. (ALHOG, NYSE Euronext – March 2010), Knight Capital Group (KCG,
NYSE Euronext – May 2010) and Watsco (WSO, NYSE Euronext – October 2010).