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Ensign Comments on Trinidad Drilling Waiving its Shareholder Rights Plan; Reminds Shareholders to Tender their Shares Well in Advance of Nov. 27 Deadline
Ensign Comments on Trinidad Drilling Waiving its Shareholder Rights Plan; Reminds Sharehol...
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\n\n\n\nEnsign Comments on Trinidad Drilling Waiving its Shareholder Rights Plan; Reminds Shareholders to Tender their Shares Well in Advance of Nov. 27 Deadline\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 22, 2018\n\n\n\nEnsign's all-cash offer for $1.68 per Trinidad common share is the superior offer; represents an 11% premium over Precision Drilling's all-share proposed arrangement, based on the closing price of the common shares of Precision Drilling on the TSX as of November 22, 2018 Shareholders encouraged to tender their shares ahead of the deadline on Tuesday, November 27 at 10:00 a.m. Toronto time. Shareholders are reminded that most financial intermediaries have earlier expiry deadlines for processing tenders Need help? Questions? Contact Kingsdale Advisors at 1-866-581-1514 or by e-mail at [email protected]  CALGARY, Nov. 22, 2018 /CNW/ - Ensign Energy Services Inc. (TSX:ESI) (\"Ensign\" or \"We\" or \"Us\" or the \"Offeror\") is pleased by today's announcement from Trinidad Drilling Ltd. (\"Trinidad\") that Trinidad will waive its shareholder rights plan in connection with Ensign's previously announced all-cash offer (the \"Offer\") to acquire all the issued and outstanding common shares of Trinidad for $1.68 per share.\n\"Trinidad's decision to waiver their poison pill option is an important step in this process for Ensign as it removes a barrier to completion in the form of an inappropriate dilutive defensive tactic and is in the best interest of Trinidad shareholders,\" said Bob Geddes, President & Chief Operating Officer of Ensign. \n\"As the deadline to tender nears, we're seeing growing support for our Offer. Trinidad shareholders recognize that our all-cash superior Offer is the best opportunity to unlock value and provides them with immediate value, flexibility and choice. We encourage shareholders to tender their shares today, well in advance of the November 27 deadline.\"\nShareholders are reminded that the deadline to tender to Ensign's superior all-cash O...