CALGARY, April 17, 2014 /CNW/ - Ensign Energy Services Inc. ("Ensign" or the "Company") announced today the resolution of a complaint made by an Ensign
shareholder concerning the Company's historical option granting
practices. The resolution, which was approved by the Alberta Court of
Queen's Bench on April 15, 2014, provides for the return to the Company
of benefits received by certain directors and officers of the Company
arising from an alleged failure of administration and oversight over
the historical option granting process, and repayment of the costs of
the related review. The aggregate amounts involved are not material to
This resolution follows a review of the Company's historical option
granting processes by a third party independent advisor to the Ensign
Board of Directors. Among the findings of the independent advisor was
that Ensign's current option granting practices are satisfactory and
have been satisfactory since late 2006.
Ensign Energy Services Inc. is an international oilfield services
contractor based in Calgary, Alberta. Ensign's common shares are
publicly traded through the facilities of the Toronto Stock Exchange
SOURCE: Ensign Energy Services Inc.
For further information:
Suzanne Davies, General Counsel & Corporate Secretary at (403) 262-1361.