The hedge fund said it plans to talk to the management of Bellatrix about ways to "maximize shareholder value."
That could include hiring an outside adviser to make recommendations on "strategic alternatives, capital allocation and improved investor communications" as well as making changes to the energy company's board of directors.
Orange also wants Bellatrix to take steps to bring its valuation "in line with its intrinsic value," adding the company currently lags its Canadian peers.
As well, it wants Bellatrix to stop diluting its share price by issuing stock and to explore a potential joint-venture, spinout or sale of its midstream assets
Shares in Bellatrix were up more than eight per cent at
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 30, 2014
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