Gibson Energy Inc. Adopts Additional Bylaw
CALGARY, March 6, 2013
CALGARY, March 6, 2013 /PRNewswire/ - Gibson Energy Inc. ("Gibson" or the
"Corporation"), TSX: GEI, announced today that its Board of Directors approved
the adoption of a new bylaw of the Corporation (the "New Bylaw") on March 5,
2013. The New Bylaw requires advance notice to the Corporation in
circumstances where nominations of persons for election as a director of the
Corporation are made by shareholders other than pursuant to: (i) a requisition
of a meeting made pursuant to the provisions of the Business Corporations Act
(Alberta) (the "Act"); or (ii) a shareholder proposal made pursuant to the
provisions of the Act.
Among other things, the New Bylaw fixes a deadline by which shareholders must
submit a notice of director nominations to the Corporation prior to any annual
or special meeting of shareholders where directors are to be elected and sets
forth the information that a shareholder must include in the notice for it to
In the case of an annual meeting of shareholders, notice to the Corporation
must be made not less than 30 nor more than 65 days prior to the date of the
annual meeting; provided, however, that in the event that the annual meeting
is to be held on a date that is less than 50 days after the date on which the
first public announcement of the date of the annual meeting was made, notice
may be made not later than the close of business on the 10th day following
such public announcement. In the case of a special meeting of shareholders
(which is not also an annual meeting), notice to the Corporation must be made
not later than the close of business on the 15th day following the day on
which the first public announcement of the date of the special meeting was
In addition to the provision of advance notice, the New Bylaw also provides
that a notice or document required to be sent or delivered pursuant to the
bylaws of the Corporation or section 256 or section 257 of the Act may be sent
by electronic means.
The New Bylaw is effective immediately. At the next meeting of shareholders of
the Corporation, to be held on May 8, 2013, shareholders will be asked to
confirm and ratify the New Bylaw.
Gibson is one of the largest independent midstream energy companies in Canada
and an integrated service provider to the oil and gas industry in the United
States. Gibson is engaged in the movement, storage, blending, processing,
marketing and distribution of crude oil, condensate, natural gas liquids,
water, oilfield waste and refined products. Gibson transports energy products
by utilizing its network of terminals, pipelines, storage tanks, and trucks
located throughout western Canada and through its significant truck
transportation and injection station network in the United States. Gibson
also provides emulsion treating, water disposal and oilfield waste management
services in Canada and the United States and is the second largest retail
propane distribution company in Canada.
SOURCE Gibson Energy Inc.
Vice President Investor Relations and Communications
Press spacebar to pause and continue. Press esc to stop.