West Energy announces changes to resolutions being considered at its Annual and Special Meeting



    CALGARY, May 1 /CNW/ - West Energy Ltd.("West" or the "Company") (TSX:
WTL) announces that its Board of Directors has determined to withdraw one
resolution and to amend another resolution. Both resolutions relate to stock
options. These will be placed before shareholders at the Annual and Special
Meeting scheduled for 2:00 p.m. May 6, 2009.
    The information circular mailed April 15 and available for inspection on
SEDAR at www.sedar.com, contains a proposed resolution to approve the grant of
unallocated stock options under the stock option plan of the Company and
amendments to the stock option plan which would facilitate the repricing of
non-insider options at the discretion of the Board of Directors and also
contains a resolution ratifying the repricing of certain outstanding options
held by insiders of the Company to a price of $2.53 per share. The amended
exercise price of $2.53 was chosen by the Board of Directors so that the
holders of the amended options would be placed in the same economic position
as the holders of rights granted under the Company's retention award plan
(which is described in Note 12 to the financial statements of the Corporation
for the year ended December 31, 2008).
    West has had discussions with shareholders who hold a significant number
of the Company's shares who have expressed concerns that the amendments in
principle do not maintain the appropriate alignment between the interests of
the Company shareholders and its insiders and employees. The Company has
determined that the following changes are appropriate:

    
    1)  The resolution noted as item 5 on the Company's Proxy voting form
        will be withdrawn in its entirety. This resolution read as follows:
        "Ratifying the amendment of certain currently outstanding options to
        purchase an aggregate of 975,000 common shares which were granted
        pursuant to the stock option plan of the Corporation to reduce the
        exercise price of such options to $2.53 per share as described in the
        information circular."

    2)  The resolution noted in item 4 on the Company's Proxy voting form
        will be amended to read as follows: All unallocated stock options
        issuable pursuant to the stock option plan of West Energy Ltd. (the
        "Corporation") are approved and authorized until May 6, 2012;

    3)  The portion of the resolution noted in item 4 on the Company's Proxy
        voting form and item 2 on Page 6 of the Information Circular which
        reads as follows: "The amendment of the stock option plan of the
        Corporation on the terms described in the information circular -
        proxy statement dated March 20, 2009, be and the same is hereby
        approved." will be withdrawn.
    

    All shareholders are encouraged to attend the Annual and Special Meeting
scheduled for 2:00 p.m. May 6, 2009 which will be held in the Strand-Tivoli
Room of the Metropolitan Convention Centre, 333 4th Avenue SW, Calgary,
Alberta. Shareholders unable to attend the meeting are encouraged to submit
proxy forms to ensure their shares are voted.





For further information:

For further information: Ken McCagherty, President and Chief Executive
Officer, Email: mccagherty@westenergy.ca, Direct Phone: (403) 716-3458; Scott
Bridge, Vice President Finance and Chief Financial Officer, Email:
sbridge@westenergy.ca, Direct Phone: (403) 716-3457

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WEST ENERGY LTD.

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