Pure Energy Announces Approval of Dividend Reinvestment Plan
TSX - PSV
CALGARY, May 15, 2012 /CNW/ - Pure Energy Services Ltd. ("Pure" or the "Corporation") announced today that its Board of Directors has approved a Dividend Reinvestment Plan (the "DRIP") for the Corporation's Canadian resident shareholders ("Eligible Shareholders"). The DRIP will commence with the previously announced August 15, 2012 dividend.
The DRIP allows Eligible Shareholders to direct cash dividends paid on all or a portion of their common shares of Pure ("Common Shares") be reinvested in additional Common Shares which will be issued at 95 percent of the volume weighted average trading price of the Common Shares on the Toronto Stock Exchange during the last five trading days ending at the conclusion of the second trading day immediately preceding the relevant dividend payment date.
To participate in the DRIP, registered Eligible Shareholders must deliver a properly completed enrolment form to Olympia Trust Company ("Olympia") (in its capacity as plan agent under the DRIP), as directed under the DRIP, by not later than 4:30 p.m. (Calgary time) on the business day immediately preceding a dividend record date in order for the cash dividend to which such record date relates to be reinvested under the DRIP.
Beneficial Eligible Shareholders (owners of Common Shares that are held through a nominee) who wish to participate in the DRIP should contact the broker, investment dealer, financial institution or other nominee who holds their Common Shares to inquire about the applicable enrolment deadline and to request enrolment in the DRIP.
Copies of the DRIP and the enrolment form are available on Olympia's website at www.olympiatrust.com or by calling Olympia at (403) 261-0900, and on the Corporation's website at www.pure-energy.ca under the heading "Investor Relations - Dividend Reinvestment Plan". Shareholders are urged to carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP.
No commissions, service charges or brokerage fees will be payable by DRIP participants in connection with their purchase of Common Shares from treasury. However, beneficial Eligible Shareholders who wish to participate in the DRIP through the broker, investment dealer, financial institution or other nominee who holds their Common Shares should consult that nominee to confirm what fees, if any, the nominee may charge to enrol in the DRIP on their behalf or whether the nominee's policies might result in any costs otherwise becoming payable by the beneficial Eligible Shareholder.
Participation in the DRIP will not relieve DRIP participants of any liability for taxes that may be payable on dividends. Eligible Shareholders should consult their own tax advisors concerning the tax implications of their participation in the DRIP regarding their own particular circumstances.
The Common Shares and the Common Shares to be issued pursuant to the DRIP are not, and will not be, registered under the United States Securities Act of 1933, as amended, and accordingly, the Common Shares issued pursuant to the DRIP are not being publicly offered for sale in the United States or in any of the territories or possessions thereof or any other jurisdictions or to or for the benefit of "U.S. Persons" (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended). Participation in the DRIP will not be accepted from any person or person's agent who is not an Eligible Shareholder.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any province or territory of Canada or in any other jurisdiction. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or a sale would be unlawful.
Pure is an oilfield services company that provides well completion and abandonment services to oil and gas exploration and development entities in the Western Canadian Sedimentary Basin and certain regions of the United States.
Kevin Delaney
Chief Executive Officer
E-mail: [email protected]
Chris Martin
Vice President, Finance and Chief Financial Officer
E-mail: [email protected]
Address: 10th Floor, 333 - 11th Avenue S.W.
Calgary, Alberta
T2R 1L9
Phone: (403) 262-4000
Fax: (403) 262-4005
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