Key Developments: Dawson Geophysical Co (DWSN.OQ)

DWSN.OQ on NASDAQ Stock Exchange Global Select Market

37.00USD
1:20pm EDT
Price Change (% chg)

$-0.02 (-0.05%)
Prev Close
$37.02
Open
$36.68
Day's High
$37.09
Day's Low
$36.46
Volume
7,123
Avg. Vol
14,131
52-wk High
$40.67
52-wk Low
$20.20

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Latest Key Developments (Source: Significant Developments)

Dawson Geophysical Co Appoints New Chairman-Form 8-K
Friday, 30 Nov 2012 09:04pm EST 

Dawson Geophysical Co reported in its Form 8-K that on November 27, 2012, L. Decker Dawson, the founder and current Chairman of the Board of Directors (Board) of Dawson Geophysical Company (Company), informed the Board that he would not stand for reelection when his current term as a Director expires at the Company’s next Annual Meeting of Shareholders in January 2013. At the same meeting, the Board appointed Mr. Dawson to the new position of Chairman Emeritus of the Board, such appointment to be effective when his term as a director expires at the Annual Meeting.  Full Article

Dawson Geophysical Co. Announces Termination Of Merger Agreement With TGC Industries, Inc.
Friday, 28 Oct 2011 05:30am EDT 

Dawson Geophysical Co. announced that TGC Industries, Inc. (TGC) has terminated the definitive merger agreement pursuant to which Dawson would have acquired TGC in a tax-free stock-for-stock transaction. As of the result of the 10 day volume weighted average price for Dawson's stock as of October 25, 2011 falling outside the designated range specified in the merger agreement, Dawson and TGC engaged in discussions and exchanged letters concerning possible adjustments to the merger exchange ratio of Dawson stock for TGC stock prior to and on October 26 and 27, 2011. However, the parties were unable to reach agreement regarding an adjustment to the exchange ratio. At the special shareholders meeting held by each of the companies on October 27, 2011, the transaction received support from both Dawson's and TGC's shareholders. At Dawson's special meeting, the merger proposal was adopted with the affirmative vote of approximately 77% of Dawson's outstanding shares, including the affirmative vote of approximately 97% of the shares voted at the meeting. Dawson has been advised by TGC that the merger proposal received the affirmative vote of approximately 76% of TGC's outstanding shares, slightly under the 80% level required in TGC's charter documents to complete the merger.  Full Article

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