/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
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
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
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.
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
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.