Precision Drilling and Trinidad Drilling File Joint Management Information Circular Seeking Shareholder Approval of Strategic...
08 November 2018 - 4:12AM
Precision Drilling Corporation (“Precision”) (TSX: PD; NYSE: PDS)
is pleased to announce that Precision and Trinidad Drilling Ltd.
(“Trinidad”) have each filed a joint management information
circular and proxy statement (the “Circular”) for their respective
special securityholders' meetings to be held on December 11, 2018
in connection with the previously announced strategic combination
of Precision and Trinidad (the “Arrangement”). Pursuant to the
Arrangement, Precision has agreed to acquire all of the issued and
outstanding common shares of Trinidad on the basis of 0.445 common
shares of Precision for each outstanding Trinidad share.
Shareholders of Precision (the “Precision
Shareholders”) and securityholders of Trinidad should receive these
meeting materials by mail shortly. A copy of the Circular is
available for viewing on SEDAR under each of Precision's profile
and Trinidad's profile.
Your vote is important. Precision encourages
Precision Shareholders to read the meeting materials in detail.
Proxy or voting instructions from Precision Shareholders must be
received by no later than 10:30 a.m. (Calgary time) on
December 7, 2018.
Precision Meeting
The special meeting of Precision Shareholders
(the “Precision Meeting”) is scheduled to be held at Eighth Avenue
Place, Suite 410, located at 525 – 8th Avenue S.W. Calgary,
Alberta, Canada at 10:30 a.m. (Calgary time) on
December 11, 2018. At the Precision Meeting, Precision
Shareholders will be asked to consider and vote upon the issuance
of common shares of Precision and the election of one Trinidad
nominee to the board of directors of Precision (the “Precision
Transaction Resolution”) in connection with the Arrangement.
The board of directors of Precision unanimously
recommends that Precision Shareholders vote in favour of the
Precision Transaction Resolution.
Shareholder Information and
Questions
If you have any questions or require more
information to vote your Precision shares, please contact Evolution
Proxy, Inc. proxy solicitation agent for Precision at
1-844-226-3222 or 1-416-855-0238 outside of North America, or via
email at info@evolutionproxy.com.
About Precision
Precision is a leading provider of safe and High
Performance, High Value services to the oil and gas industry.
Precision provides customers with access to an extensive fleet of
contract drilling rigs, directional drilling services, well service
and snubbing rigs, camps, rental equipment, and wastewater
treatment units backed by a comprehensive mix of technical support
services and skilled, experienced personnel.
Precision is headquartered in Calgary, Alberta,
Canada. Precision is listed on the Toronto Stock Exchange under the
trading symbol “PD” and on the New York Stock Exchange under the
trading symbol “PDS”.
For further information, please contact:
Carey Ford, CFASenior Vice President and Chief
Financial Officer713.435.6111
Ashley Connolly, CFAManager, Investor
Relations403.716.4725
Precision Drilling Corporation800, 525 - 8th
Avenue S.W.Calgary, Alberta, Canada T2P 1G1Website:
www.precisiondrilling.com
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