Gibson Energy Inc. announces Dividend Reinvestment Plan

Aug 17, 2011

/Not for distribution to U.S. newswire services or for dissemination in the United States/

CALGARY, Aug. 17, 2011 /CNW/ - Gibson Energy Inc. ("Gibson" or the "Company") is pleased to announce that its Board of Directors has approved a Dividend Reinvestment Plan (the "Plan").  The Plan provides eligible shareholders with the opportunity to reinvest their cash dividends, on each dividend payment date, in additional common shares of Gibson (the "Plan Shares") to be issued from treasury of Gibson.  Eligible shareholders may elect to participate in the Plan commencing with the quarterly cash dividend payable on October 21, 2011 (the "October 2011 Dividend").

As permitted by the Plan, for the purposes of the October 2011 Dividend and thereafter until further notice otherwise is provided by Gibson in accordance the Plan, Plan Shares will be issued on the applicable dividend payment date from treasury of Gibson to eligible shareholders participating in the Plan at a 3% discount to the average market price of the common shares of Gibson (the "Common Shares").  Average market price is defined in the Plan to be the volume weighted average trading price of the Common Shares on the Toronto Stock Exchange for the five trading days preceding the dividend payment date.

To participate in the Plan, registered shareholders must deliver a properly completed enrolment form to Computershare Trust Company of Canada ("Computershare") (in its capacity as plan agent under the Plan), as directed under the Plan, not later than 4:00 p.m. (Toronto time) on the fifth (5th) 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 Plan.  Registered shareholders who wish to reinvest, pursuant to the Plan, the October 2011 Dividend payable to shareholders of record on September 30, 2011 must therefore deliver a completed and signed enrolment form to Computershare not later than 4:00 p.m. (Toronto time) on Friday, September 23, 2011. Shareholders who do not wish to participate in the Plan will still receive their regular quarterly dividend.

Beneficial shareholders (i.e., owners of Common Shares that are held through a nominee) who wish to participate in the Plan 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 Plan.

Shareholders who are resident in Canada may participate in the Plan.  Shareholders resident in the United States may only participate in the Plan if Plan Shares under the Plan issuable to such shareholders are issuable pursuant to an available exemption from the registration requirements of the U.S. Securities Act (as defined herein).

No commissions, service charges or brokerage fees will be payable by Plan participants in connection with their purchase of Plan Shares from treasury, however, beneficial shareholders who wish to participate in the Plan 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 Plan on their behalf or whether the nominee's policies might result in any costs otherwise becoming payable by the beneficial shareholder.

Participation in the Plan will not relieve shareholders of any liability for taxes that may be payable on dividends.  Shareholders should consult their own tax advisors concerning the tax implementations of their participation in the Plan having regard to their own particular circumstances.

Copies of the Plan, a series of Questions and Answers, and the enrolment form are available on the Gibson website at www.gibsons.com under the heading "Investor Relations and Media / Dividends", or by calling Computershare at 1-800-564-6253. 

Shareholders should carefully read the complete text of the Plan before making any decisions regarding their participation in the Plan.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The securities to be offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or absent an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. 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. 

About Gibson

Gibson is one of the largest independent midstream energy companies in Canada and a major participant in the crude oil transportation business in the United States, and is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids, and refined products. Gibson transports hydrocarbons by utilizing its integrated network of terminals, pipelines and truck fleet, located throughout western Canada and the United States.

Gibson shares trade on the Toronto Stock Exchange under the symbol GEI.

Gibson's primary objective is to generate stable and growing cash flows for shareholders through an attractive dividend and a growing asset base.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ''anticipate'', ''plan'', ''contemplate'', ''continue'', ''estimate'', ''expect'', ''intend'', ''propose'', ''might'', ''may'', ''will'', ''shall'', ''project'', ''should'', ''could'', ''would'', ''believe'', ''predict'', ''forecast'', ''pursue'', ''potential'' and ''capable'' and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although the Company believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. The forward-looking statements contained in this news release represent the Company's expectations as of the date hereof, and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.

For further information:
Ken Hall
Vice President Investor Relations and Communications
(403) 781-2899
ken.hall@gibsons.com