Oct. 26, 2010 (Canada NewsWire Group) --
CALGARY AND LONDON, Oct. 26 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE',
AIM: 'SE.') ("Stratic" or the "Company") wishes to remind shareholders
of the forthcoming
special meeting to be held on November 2, 2010 at which shareholders
will be asked to vote
upon the previously announced plan of arrangement (the "Arrangement")
with EnQuest PLC
("EnQuest"). The special meeting is scheduled to be held at 10:00 a.m.
(Toronto time) at the
Toronto Marriott Bloor Yorkville Hotel in Toronto, Ontario, Canada.
In order to proceed, the Arrangement must be approved by a majority of
not less than 66 2/3 % of
votes cast by shareholders in person or by proxy at the special meeting
and, if endorsed, must
also be approved by the Supreme Court of Yukon pursuant to the
arrangement provisions of the
Business Corporations Act (Yukon). Details of the Arrangement and the
business of EnQuest are
contained in the Information Circular and Proxy Statement (the
"Circular") dated September 28,
2010, which has been posted to shareholders. This document can be
accessed at www.sedar.com
and on the Company's website www.straticenergy.com.
Details of the voting procedure, depending on the manner in which the
Stratic shares are held or
registered, are set out in the "General Proxy Matters" section on page
66 of the Circular.
Shareholders are urged to ensure that their instructions regarding the
voting of their Stratic shares
are properly communicated to the appropriate person well in advance of
the special meeting on
November 2, 2010.
The board of directors of Stratic has unanimously determined that the
Arrangement is in the best
interests of Stratic and the Stratic shareholders, and unanimously
recommends that Stratic
shareholders vote on favour of the Arrangement. All of Stratic's
directors and senior officers
intend to vote their Stratic shares in favour of the Arrangement.
Notes to Editors:
EnQuest is an independent oil and gas production and development company
focused on the UK
Continental Shelf ("UKCS"). On April 6, 2010 EnQuest was formed from the
demerged UK North Sea
assets of Petrofac Limited and Lundin Petroleum AB. EnQuest shares are
listed on the London Stock
Exchange and on the NASDAQ OMX Stockholm and are included in the FTSE250
index and OMX
Nordix index on the respective exchanges. EnQuest is completely
unrelated to the company EnQuest
Energy Services Corp., which was formerly listed on the TSX Venture
Exchange.
Reader Advisories
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release does not constitute or form part of an offer to sell
or the solicitation of an offer to buy,
nor shall there be any sale of, securities to any person to whom or in
any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities to be offered
have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act"), or any
state securities laws, and may not be offered or sold in the United
States or to or for the account or
benefit of a U.S. person unless registered under the U.S. Securities Act
and applicable state securities
laws or pursuant to an available exemption from, or in a transaction not
subject to, the registration
requirements thereof.
Certain statements made herein constitute forward-looking statements,
including statements concerning
the anticipated dates for holding the special meeting of Stratic
shareholders to consider the Arrangement,
for applying to the Court for a final order approving the Arrangement,
for completing the Arrangement
and for the delisting of the Stratic shares from the TSX Venture
Exchange and the cancellation of their
admission to trading on AIM. Although the Company believes these
statements to be reasonable, the
assumptions upon which they are based may prove to be incorrect.
Completion of the Arrangement is subject to a number of conditions,
including shareholder, court and
regulatory approvals and consents. The Arrangement could be delayed if
the Company is not able to
obtain all necessary approvals and consents on expected timelines, or
not completed at all if any
condition to closing is not satisfied. There can be no assurance that
the Arrangement will be completed
as proposed, or at all.
| Company: | |
| Kevin Watts, President and Chief Executive Officer | +44 20 7766 7900 |
| John van der Welle, Chief Financial Officer | +44 20 7766 7900 |
| Mark Bilsland, Chief Operating Officer | +44 20 7766 7900 |
| Public and investor relations: | |
| Patrick d'Ancona, M:Communications (London) | +44 20 7920 2347 |
| Roger Fullerton (Canada) | +1 952 929 7243 |
| Email: [email protected] | |
| Financial advisor and NOMAD: | |
| David Kotler, Lazard | +44 20 7187 2000 |
| Nick Fowler, Lazard | +44 20 7187 2000 |
Website:www.straticenergy.com
