CALGARY, ALBERTA--(Marketwire - June 9, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
NuVista Energy Ltd. ("NuVista") (TSX:NVA) announces that it has adopted a dividend reinvestment plan (the "DRIP"). Eligible shareholders may elect to participate in the DRIP commencing with the dividend to be paid on July 15, 2010 to shareholders of record on June 30, 2010.
The DRIP allows eligible shareholders of NuVista to direct that their cash dividends be reinvested in additional common shares which, when issued from treasury, will be issued at 97 percent of the Average Market Price (as defined in the DRIP) on the applicable dividend payment date.
While it is currently the intention of NuVista to issue the required additional common shares through treasury, NuVista may, from time to time, in its discretion, direct that such common shares be purchased through the facilities of the Toronto Stock Exchange at prevailing market prices. NuVista reserves the right to limit the amount of new equity available under the DRIP on any particular dividend date. Accordingly, participation may be prorated in certain circumstances in which case participant shareholders will receive from NuVista the regular cash dividends to which they would otherwise be entitled on such date and which are not reinvested as a result of such proration.
A registered shareholder who wishes to enroll in the DRIP for the July 15, 2010 dividend must deliver a completed enrolment form to Valiant Trust Company, as Plan Agent, before 3:00 p.m. (MST) on June 29, 2010. Beneficial shareholders who wish to participate in the DRIP should contact the broker or other nominee through which their common shares are held to provide appropriate enrolment instructions and to ensure any deadlines or other requirements that such broker or nominee may impose or be subject to are met. Enrolment forms for both registered and beneficial shareholders received after the June 29 enrolment deadline will be accepted but only effective for subsequent dividends.
A complete copy of the DRIP is available by following the "Dividend Information" link on the "Investors" page of NuVista's website at www.nuvistaenergy.com or from Valiant Trust by calling 1-866-313-1872. Shareholders should carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP.
No commissions, service charges or brokerage fees are payable in connection with the purchase of common shares from NuVista's treasury under the DRIP. Eligible shareholders who wish to participate in the DRIP indirectly through the broker or other nominee through which their common shares are held should consult such broker or nominee to confirm whether commissions, service charges or other fees are payable.
Participation in the DRIP does not relieve shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested in new common shares under the DRIP. Shareholders should consult their tax advisors concerning the tax implications of their participation in the DRIP having regard to their particular circumstances.
Please note that registered and beneficial owners of NuVista common shares who are not resident in Canada are not eligible to participate in the DRIP.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The securities offered have not been and will not be registered under the United States Securities Act of 1993, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement.
NuVista is a Calgary based, mid-size energy company engaged in exploration, development and production activities on properties located in three core regions of the Western Canadian Sedimentary Basin. Common shares of NuVista are listed on the Toronto Stock Exchange under the symbol NVA.