/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
CALGARY, Aug. 18, 2016 /CNW/ - Ensign Energy Services Inc. ("Ensign" or "the Company", TSX: ESI) announces that it has received all necessary regulatory approvals, effective August 17, 2016, in respect of its dividend reinvestment plan (the "DRIP Plan"). The DRIP Plan allows eligible holders of common shares ("Shareholders") to reinvest cash dividends paid in respect of their common shares to acquire additional common shares at a discount. The DRIP Plan will be available to eligible Shareholders wishing to participate in connection with the previously announced dividend payable on or about October 5, 2016 to shareholders of record as of September 20, 2016.
To enroll in the DRIP Plan, beneficial Shareholders will be required to contact their broker who is a central securities depository participant and who holds the Shareholder's shares. Registered Shareholders must contact Computershare Trust Company of Canada (the "Plan Agent") National Customer Contact Centre at 1-800-564-6253. Once enrolled, participation in the DRIP Plan will continue automatically unless terminated. Enrollment Forms must be submitted to the Plan Agent at least five (5) business days before the record date.
DRIP Plan shares will be issued directly from the treasury of Ensign at a price equal to 95% of the volume-weighted average price of the common shares traded on Toronto Stock Exchange during the time period prescribed by regulations and DRIP Plan.
Shareholders should carefully read the complete text of the DRIP Plan before making any decisions regarding their participation in the DRIP Plan. Participation in the DRIP 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 DRIP Plan having regard to their own particular circumstances. The complete text of the DRIP Plan may be obtained from the Computershare Trust Company of Canada's website at www.investorcentre.com, by calling the Computershare Trust Company of Canada at 1-800-564-6253, or from Ensign's website at www.ensignenergy.com.
Ensign reserves the right to amend, suspend or terminate the DRIP Plan at any time, but such action shall have no retroactive effect that would prejudice the interest of the DRIP Plan participants. No brokerage commissions, administration costs or other service charges are payable to the Plan Agent in connection with the acquisition of DRIP Plan Shares under the DRIP Plan.
The foregoing announcement is for information purposes only and is not intended to constitute an offering of securities in any jurisdiction. Readers are cautioned that the eventual timing and details for the DRIP Plan include forward-looking statements, based on current expectations, which involve a number of risks and uncertainties. Actual events may differ materially from current expectations.
Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world's top land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment, well servicing and production services. Please visit our website at www.ensignenergy.com.
Ensign's Common Shares are publicly traded though the facilities of the Toronto Stock Exchange under the trading symbol ESI.
SOURCE Ensign Energy Services Inc.
For further information: Ensign Energy Services Inc., 400 - 5th Avenue S.W., Suite 1000, Calgary, Alberta T2P 0L6 Canada, Mr. Timothy Lemke, Vice President Finance & Chief Financial Officer, Telephone: 403.262.1361