CALGARY, April 15, 2013 /CNW/ -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
Secure Energy Services Inc. ("Secure" or the "Corporation") (TSX:SES) today announced that its Board of Directors has declared its initial monthly dividend of $0.0125 per common share ("Common Share") payable on or about May 15, 2013 (the "May 2013 Dividend") to shareholders of record on May 1, 2013. The ex-dividend date is April 29, 2013. The dividend on an annualized basis amounts to $0.15 per Common Share.
Secure expects to pay dividends on or about the 15th of each month to shareholders of record on the first business day of the month.
The Corporation is also pleased to announce the adoption of a Dividend Reinvestment Plan ("DRIP") that provides eligible shareholders with the opportunity to reinvest their cash dividends, on each dividend payment date, in additional Common Shares ("Plan Shares"), which will be issued from treasury of Secure. Eligible shareholders may elect to participate in the DRIP commencing with the May 2013 Dividend.
As permitted by the DRIP, for the purposes of the May 2013 Dividend and thereafter until further notice otherwise is provided by Secure in accordance with the DRIP, Plan Shares issued from treasury will be issued on the applicable dividend payment date to eligible shareholders participating in the DRIP at a 3% discount to the average market price of the Common Shares. Average market price is defined in the DRIP to be the volume weighted average price of the Common Shares on the Toronto Stock Exchange for the five trading days preceding the dividend payment date.
To participate in the DRIP, registered shareholders must deliver a properly completed enrollment form to Olympia Trust Company (in its capacity as plan agent under the DRIP), as directed under the DRIP, not later than 4:00 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. Registered shareholders who wish to reinvest pursuant to the DRIP the May 2013 Dividend payable to shareholders of record on May 1, 2013 must therefore deliver a completed and signed enrollment form not later than 4:00 p.m. (Calgary time) on April 30, 2013.
Beneficial shareholders (i.e., 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 enquire about the applicable enrolment deadline and to request enrollment in the DRIP.
No commissions, service charges or brokerage fees will be payable by DRIP participants in connection with their purchase of Plan Shares from treasury, however beneficial 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 enroll in the DRIP on their behalf or whether the nominee's policies might result in any costs otherwise becoming payable by the beneficial shareholder.
Participation in the DRIP 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 DRIP having regard to their own particular circumstances.
Copies of the DRIP, a series of Questions and Answers, and the enrollment form will be available on Secure's website at www.secure-energy.caunder the heading "Investor Relations", or directly from Secure by calling (403) 984-6100. Questions may also be directed at Olympia Trust Company (in its capacity as plan agent under the DRIP) by calling 1-888-353-3138 or by visiting www.olympiatrust.com.
Shareholders should carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP.
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.
ABOUT SECURE ENERGY SERVICES INC.
Secure is a TSX publicly traded energy services company that focuses on providing specialized services to upstream oil and natural gas companies.
The Corporation operates three divisions:
Processing, Recovery and Disposal Division: Operating under the name Secure Energy Services Inc., the Processing, Recovery and Disposal Services Division focuses on clean oil terminalling, custom treating of crude oil, crude oil marketing, produced and waste water disposal, oilfield waste processing, landfill disposal and oil purchase/resale service.
Drilling Services Division: Operating under the name Marquis Alliance Energy Group Inc. ("Marquis Alliance"), the trade name XL Fluids Systems ("XL Fluids") and the trade name Imperial Drilling Fluids Engineering ("IDF"), the Drilling Services Division focuses on drilling fluid systems, solids control, equipment rental service, drilling waste management and environmental services. The drilling fluids service line includes the design and implementation of drilling fluid systems for producers drilling for oil, bitumen and natural gas.
On Site Division: Operating under the name Frontline Integrated Services Ltd. ("Frontline"), the On Site Division offers fully integrated services supporting the energy, resource, pipeline and civil construction industries in Western Canada. The division offers a full spectrum of services to include the full life cycle of pipeline and facility operations, waste management, asset management and recovery as well as civil, remediation and reclamation earthworks.
FORWARD LOOKING STATEMENTS
Certain statements contained in this document constitute "forward-looking statements" and/or "forward-looking information" within the meaning of applicable securities laws (collectively referred to as forward-looking statements). When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions, as they relate to Secure, or its management, are intended to identify forward-looking statements. Such statements reflect the current views of Secure with respect to future events and operating performance and speak only as of the date of this document. In particular, this document contains forward-looking statements pertaining to the DRIP, the discount, if any, at which DRIP Shares will be issued under the DRIP and the timing of dividends payable by Secure on its Common Shares.
Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. We caution readers not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the results discussed in these forward-looking statements. Although forward-looking statements contained in this document are based upon what the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this document are expressly qualified by this cautionary statement. Unless otherwise required by law, Secure does not intend, or assume any obligation, to update these forward-looking statements.
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility for the adequacy or accuracy of this release.