TORONTO, Nov. 19, 2015 /CNW/ - FrontFour Capital Corp. ("FrontFour Capital"), as manager of FrontFour Opportunity Fund (the "Opportunity Fund"), and its affiliate, FrontFour Capital Group LLC ("FrontFour LLC"), as manager of FrontFour Master Fund, Ltd. (the "Master Fund") and three separately managed accounts (collectively, with FrontFour Capital, the Opportunity Fund, FrontFour LLC and the Master Fund, the "FrontFour Group"), owning and controlling approximately 18.63% of the outstanding common shares of Rock Energy Inc. ("Rock Energy") (TSX:RE), announced today that the Master Fund, on behalf of the FrontFour Group, has requisitioned the Rock Energy Board of Directors (the "Board") to call a special meeting of shareholders (the "Meeting") pursuant to section 142 of the Business Corporations Act (Alberta) (the "Requisition"), to remove three of the five incumbent directors and to elect three new directors to the Board. The Requisition requests that the Meeting occur by no later than January 22, 2016, which provides the Board with ample time to call and hold a meeting.
As of November 18, 2015, the FrontFour Group has registered or beneficial ownership of, and/or exercises control or direction over, 8,845,700 common shares of Rock Energy, representing approximately 18.63% of the outstanding common shares of Rock Energy (based on a total of 47,475,913 common shares reported as outstanding in Rock Energy's most recent management discussion and analysis for the three and nine months ended September 30, 2015).
The FrontFour Group believes that the Meeting is necessary in order to effect immediate and significant changes to the Board in order to preserve and enhance shareholder value.
The FrontFour Group has retained the Special Situations Team at Norton Rose Fulbright Canada LLP to serve as its counsel on this matter and Kingsdale Shareholder Services to act as its strategic shareholder advisor and proxy solicitor.
Additional information, including information regarding the nominees of FrontFour Group, will be contained in an information circular prepared by or on behalf of the FrontFour Group and mailed to Rock Energy shareholders in advance of the requisitioned meeting.
This news release is for informational purposes only and is not a solicitation of proxies. Any proxies solicited by or on behalf of the FrontFour Group in connection with the requisitioned meeting will be solicited pursuant to an information circular or as otherwise permitted by law.
SOURCE The FrontFour Group
For further information: Zachary George, FrontFour Capital, Portfolio Manager, 203-274-9050; Media: Ian Robertson, Kingsdale Shareholder Services, Vice President, Communications, Direct: 416.867.2333, Cell: 647.621.2646, [email protected]