Vermilion Energy Inc. Sells Common Shares of Coelacanth Energy Inc.

Vermilion Energy (TSX: VET, NYSE: VET) sold 30,000,000 common shares of Coelacanth Energy on December 8, 2025 at $0.76 per share for total proceeds of $22,800,000.

Rhea-AI Summary

Vermilion Energy (TSX: VET, NYSE: VET) sold 30,000,000 common shares of Coelacanth Energy on December 8, 2025 at $0.76 per share for total proceeds of $22,800,000.

Prior to the transaction Vermilion held 110,179,104 shares (~20.7%); after the sale it holds 80,179,104 shares (~15.0%). Vermilion said the sale continues its priority of reducing debt to strengthen business resiliency. An amendment to an investor rights agreement prevents Vermilion from selling more than 60,000,000 of the original 110,179,104 shares without Coelacanth consent until June 8, 2026. An Early Warning Report was filed on SEDAR+.

Positive

• Proceeds of $22.8M from the share sale
• Stake reduced from 20.7% to 15.0%
• Action aligned with priority of debt reduction

Negative

• Ownership reduced by 5.7 percentage points
• Restriction: cannot sell > 60,000,000 original shares without consent until June 8, 2026

Argus Dec 9 session

-1.96% close to close 1.4x rel. volume Open Argus

Details

News Market Reaction – VET

On Dec 9, the first trading day after this news, VET closed 1.96% below the previous close.

Data tracked by StockTitan Argus for the Dec 9 session.

Key Figures

Coelacanth shares sold: 30,000,000 shares Sale price per share: $0.76 per share Transaction value: $22,800,000 +4 more

Coelacanth shares sold

30,000,000 shares

Common shares of Coelacanth sold in privately negotiated transaction

Sale price per share

$0.76 per share

Price received per Coelacanth common share in the transaction

Transaction value

$22,800,000

Total purchase price for Coelacanth shares sold on Dec 8, 2025

Pre-sale holdings

110,179,104 shares (20.7%)

Vermilion’s Coelacanth stake before the transaction

Post-sale holdings

80,179,104 shares (15.0%)

Vermilion’s Coelacanth stake after the transaction

Lock-up capacity

60,000,000 shares

Maximum additional Coelacanth shares Vermilion may sell before Jun 8, 2026 without consent

Restriction end date

June 8, 2026

End date for enhanced consent requirement under amended investor rights agreement

Historical Context

5 past events · Latest: Nov 26

5 events

1. Nov 26

   Investor day announcement

   24h Move

   +0.5%

   Announcement of Investor Day focused on repositioned global gas portfolio.

2. Nov 05

   Earnings and guidance

   24h Move

   -0.3%

   Strong Q3 results, lower 2025 cost guidance and planned dividend increase.

3. Nov 05

   Dividend declaration

   24h Move

   -0.3%

   Announcement of C$0.13 cash dividend and payment details.

4. Oct 22

   Earnings date notice

   24h Move

   +1.8%

   Confirmation of Q3 2025 release date and conference call logistics.

5. Aug 07

   Quarterly results

   24h Move

   -4.1%

   Q2 results with net loss and details on divestments and debt reduction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

early warning report, investor rights agreement, take-over bid, insider reporting, +1 more

5 terms

early warning report regulatory

"announces that it has filed an early warning report (the "Early Warning Report")"

An early warning report is a regulatory filing that publicly discloses when an investor or insider has taken a large or potentially influential position in a company's shares or plans significant actions with those shares. It matters to investors because it flags possible shifts in control, takeover attempts, or concentrated influence—like a neighborhood notice that someone is buying several houses on the block—helping readers reassess risk, valuation, and trading strategy.

investor rights agreement financial

"without the consent of Coelacanth pursuant to an amendment to the investor rights agreement"

A legally binding contract between a company and its investors that spells out investors’ core protections and privileges—such as voting rights, how and when shares can be sold, information access, and steps for resolving disputes. Think of it like a rulebook or homeowner association agreement for ownership: it clarifies who gets a say, how value can be realized, and what protections exist if things go wrong, making investment risks and expectations clearer for shareholders.

take-over bid regulatory

"The Early Warning System and Related Take-Over Bid and Insider Reporting Issues"

A take-over bid is a formal offer by a buyer to purchase shares of a company, often enough to gain control of it. Think of it like someone making a public offer to buy enough houses on a block so they control the neighborhood — it can push the target’s share price up, change who runs the business, and alter future dividends or strategy, so investors care because it affects the value and control of their holdings.

insider reporting regulatory

"The Early Warning System and Related Take-Over Bid and Insider Reporting Issues"

Insider reporting is the public disclosure of stock trades and holdings by a company’s executives, directors or large shareholders, filed with market regulators so investors can see when people with inside knowledge buy or sell. It matters because these actions can signal confidence or concern about a company’s future—much like a shop owner restocking or clearing shelves, insiders’ moves give clues about how those closest to the business view its prospects.

SEDAR+ regulatory

"The Early Warning Report has been filed under Coelacanth's profile on SEDAR+"

SEDAR+ is Canada’s centralized online system where publicly traded companies submit required regulatory documents such as financial reports, prospectuses and disclosure statements. It gives investors a single, searchable place — like a public library or online filing cabinet — to check a company’s official records for transparency, compare performance, and verify material information before making investment decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CALGARY, AB, Dec. 8, 2025 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion" or the "Company") (TSX: VET) (NYSE: VET) announces that it has filed an early warning report (the "Early Warning Report") in respect of its holdings in Coelacanth Energy Inc. ("Coelacanth").

On December 8, 2025, Vermilion sold 30,000,000 common shares ("Common Shares") of Coelacanth through a privately negotiated transaction with a group of purchasers, acting jointly and in concert, at a price of $0.76 per Common Share for a purchase price of $22,800,000 (the "Transaction"), representing an amount equal to more than 2% of the issued and outstanding Common Shares thereby triggering the requirement to file the Early Warning Report.

Prior to the Transaction, Vermilion had ownership, control or direction over an aggregate of 110,179,104 Common Shares, representing approximately 20.7% of the issued and outstanding Common Shares. Following the Transaction, Vermilion has ownership, control and direction over an aggregate of 80,179,104 Common Shares, representing approximately 15.0% of the issued and outstanding Common Shares.

The Common Shares were sold in continuance of Vermilion's stated priority of reducing its debt to further enhance the resiliency of its business. While Vermilion may not, until June 8, 2026, sell more than 60,000,000 of the 110,179,104 Common Shares held by it prior to the Transaction without the consent of Coelacanth pursuant to an amendment to the investor rights agreement with Coelacanth, Vermilion may, in the short term, decrease its holdings of Common Shares depending on market conditions, general economic conditions and industry conditions, and/or other relevant factors. Vermilion will continue to review its holdings of Common Shares and depending on the forgoing factors and amendment, as applicable, may in the future, increase or decrease its investment in the securities of Coelacanth.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of the Early Warning Report. The Early Warning Report has been filed under Coelacanth's profile on SEDAR+ and can be viewed at www.sedarplus.ca.

About Vermilion

Vermilion is a global gas producer that seeks to create value through the acquisition, exploration and development of liquids-rich natural gas in Canada and conventional natural gas in Europe while optimizing low-decline oil assets. This diversified portfolio delivers outsized free cash flow through direct exposure to global commodity prices and enhanced capital allocation optionality.

Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important than the safety of the public and those who work with Vermilion, and the protection of the natural surroundings. In addition, the Company emphasizes strategic community investment in each of its operating areas.

Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

View original content to download multimedia:https://www.prnewswire.com/news-releases/vermilion-energy-inc-sells-common-shares-of-coelacanth-energy-inc-302635902.html

SOURCE Vermilion Energy Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Coelacanth shares did Vermilion sell on December 8, 2025 (VET)?

Vermilion sold 30,000,000 Coelacanth common shares on December 8, 2025.

What price did Vermilion receive per Coelacanth share in the December 8, 2025 sale (VET)?

The shares were sold at $0.76 per share for total proceeds of $22,800,000.

What is Vermilion's Coelacanth ownership after the December 8, 2025 transaction (VET)?

After the sale Vermilion holds 80,179,104 shares, representing approximately 15.0%.

Why did Vermilion sell Coelacanth shares on December 8, 2025 (VET)?

Vermilion said the sale was in continuance of its stated priority of reducing debt to enhance resiliency.

Are there limits on Vermilion selling more Coelacanth shares before June 8, 2026 (VET)?

Yes; an amendment prevents Vermilion from selling more than 60,000,000 of the original shares without Coelacanth consent until June 8, 2026.

Where can I view Vermilion's Early Warning Report for the Coelacanth sale (VET)?

The Early Warning Report is filed under Coelacanth's profile on SEDAR+ at www.sedarplus.ca.