CALGARY, April 23, 2012 /PRNewswire/ - CE Franklin Ltd.
(NASDAQ: CFK) (TSX: CFT) announced that it has been notified by the
Toronto Stock Exchange (the "TSX") that the TSX will defer
consideration of the acceptance of CE Franklin Ltd.'s
Shareholder Rights Plan (the "Rights Plan") until May 31, 2012. A condition of acceptance of
the Rights Plan by the TSX after the aforementioned time would be
that requisite shareholder approval be obtained within six months
of the adoption of the Rights Plan by the board of directors on
April 18, 2012.
Shareholders should note that the Rights Plan
remains in effect while TSX defers its review of the Rights Plan. A
copy of the Rights Plan is available at www.sedar.com.
About CE Franklin
For more than 75 years, CE Franklin has been a
leading supplier of products and services to the energy industry.
CE Franklin distributes pipe, valves, flanges, fittings, production
equipment, tubular products and other general oilfield supplies to
oil and gas producers in Canada as
well as to the oil sands, refining, heavy oil, petrochemical,
forestry and mining industries. These products are distributed
through its 39 branches, which are situated in towns and cities
serving particular oil and gas fields of the western Canadian
sedimentary basin.
Forward-looking Statements: The
information in this news release may contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
other applicable securities legislation. All statements, other than
statements of historical facts, that address activities, events,
outcomes and other matters that CE Franklin plans, expects,
intends, assumes, believes, budgets, predicts, forecasts, projects,
estimates or anticipates (and other similar expressions) will,
should or may occur in the future are forward-looking statements.
These forward-looking statements are based on management's current
belief, based on currently available information, as to the outcome
and timing of future events. When considering forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements and refer to the Form 20-F or our annual
information form for further detail.
SOURCE CE Franklin Ltd.