/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
ANY UNITED STATES NEW SERVICES./
CALGARY, Feb. 13, 2012 /CNW/ - Vero Energy Inc. (TSX:VRO) ("Vero" or the "Company") announces that it has mailed its
Information Circular and Proxy Statement (the "Information Circular")
in respect of its special meeting of holders ("Shareholders") of common
shares ("Common Shares") of the Corporation scheduled to be held on
March 7, 2012 (the "Meeting").
As previously announced, Shareholders will be asked at the Meeting to
vote upon a special resolution to approve the proposed one-time cash
distribution to Shareholders of $0.30 per Common Share (the "Cash
Distribution"). If approved at the Meeting, subject to confirmation by
the Board of Directors of Vero promptly following the Meeting, the
record date for determining Shareholders which will be entitled to the
Cash Distribution is expected to be March 20, 2012 and the Cash
Distribution is anticipated to be paid on or about March 27, 2012.
Assuming a March 20, 2012 record date, the Common Shares would be
expected to commence trading on an "ex-distribution" basis on March 16,
This press release contains forward-looking statements and information
concerning the anticipated Cash Distribution to Shareholders, the
amount thereof and the anticipated timing of the record, payment and
ex-distribution dates in respect of same. Readers should not place
undue reliance on the forward-looking statements and information
contained in this press release. There can be no assurances that the
proposed Cash Distribution will be completed on the timing anticipated
or at all.
The forward-looking statements and information contained in this press
release are made as of the date hereof and Vero undertakes no
obligation to update publicly or revise any forward-looking statements
or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
The Common Shares of Vero have not and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold in
the United States or to any U.S. person except in certain transactions
exempt from the registration requirements of the U.S. Securities Act
and applicable state securities laws.
SOURCE Vero Energy Inc.
For further information:
President & Chief Executive Officer
Vice-President Finance & Chief Financial Officer