/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, March 21, 2012 /CNW/ - Veresen Inc.
("Veresen" or "the Company") (TSX: VSN)
today announced that Ms. Maureen Howe has been nominated to
stand for election as a director of Veresen at the
Company's Annual General Meeting on May 1, 2012, along
with all of the incumbent directors, other than Mr. David
Drybrough and Mr. Robert Reid, who will not be standing for
re-election to the board.
"We are pleased that Maureen has been nominated to
join Veresen's board," said Stephen Mulherin,
chairman of the board of Veresen. "Ms. Howe's
financial and capital markets experience in the area of
energy infrastructure makes her an excellent fit for our
board, and I believe her insights and years of experience
will be extremely valuable to our company."
Formerly a Managing Director at RBC Capital Markets in
equity research, Ms. Howe was regularly a top ranked
analyst in Canada by independent industry surveys. She
specialized in the area of energy infrastructure, which
included power generation, transmission and distribution,
oil and gas transmission and distribution, gas processing,
and alternative energy. Prior to joining RBC Capital
Markets, Ms. Howe held finance positions in the utility
industry, investment banking and portfolio management.
Ms. Howe is a director of TimberWest Forest Corp., the UBC
Investment Management Trust and the Canadian Securities
Institute Foundation. She is also a member of the Board of
Governors of the University of British Columbia,
Chairperson of the Phillips, Hager & North Centre for
Financial Research, and a board member of the Insurance
Corporation of British Columbia.
Over her career, Ms. Howe has been involved with a number
of not-for-profit and professional entities, including
Board Membership with the YWCA, the Financial Institutions
Commission of British Columbia, the Health Care Benefit
Trust, and the Faculty Advisory Board for the Sauder School
of Business. She has taught a number of finance courses at
the Undergraduate, and Graduate level. Ms. Howe holds a
Bachelor of Commerce (Honours) from the University of
Manitoba and a Ph.D. in Finance from the University of
March 2012 Dividend
Veresen's Board of Directors has declared a cash
dividend for March 2012 of $0.0833 per share. The dividend
will be paid on April 23, 2012 to shareholders of record at
the close of business on March 30, 2012. This dividend is
designated an "eligible dividend" for Canadian
income tax purposes.
The dividend is eligible to be reinvested by shareholders,
at a 5% discount, in common shares of Veresen ("Common
Shares") under the dividend reinvestment component of
the Premium Dividend and Dividend Reinvestment Plan of
Veresen Inc. ("Plan") to be held for their
account under the Plan, or such shareholders may have these
additional Common Shares delivered to a designated plan
broker in exchange for a premium cash payment equal to 102%
of the reinvested amount under the Premium Dividend
component of the Plan.
Registered shareholders of Veresen who have not previously
enrolled in the Plan and wish to enroll in the Plan with
respect to the March 2012 cash dividend and future cash
dividends declared by Veresen, must deliver to
Computershare Trust Company of Canada, as Plan Agent, a
completed enrollment form which is available at www.computershare.com/investorcentrecanada,
at or before 5:00 pm (ET) on Friday, March 23, 2012.
A copy of the enrollment form may also be obtained by
calling Computershare Trust Company of Canada at
1-800-564-6253, or from Veresen's website at www.vereseninc.com.
Beneficial shareholders of Veresen who have not previously
enrolled in the Plan and wish to participate in the Plan
with respect to the March 2012 cash dividend and future
cash dividends declared by Veresen, should contact their
broker, investment dealer, financial institution or other
nominee to provide appropriate enrollment instructions and
to ensure any deadlines or other requirements that such
nominee may impose or be subject to are met.
About Veresen Inc.
Veresen is a publicly-traded dividend paying corporation
based in Calgary, Alberta, that owns and operates energy
infrastructure assets across North America. Veresen
is engaged in three principal businesses: a pipeline
transportation business comprised of interests in two
pipeline systems, the Alliance Pipeline and the Alberta
Ethane Gathering System; a midstream business which
includes ownership interests in a world-class natural gas
liquids extraction facility near Chicago, the
Hythe/Steeprock gas gathering and processing complex, and
other natural gas and NGL processing energy infrastructure;
and a power business with renewable and gas-fired
facilities and development projects in Canada and the
United States, and district energy systems in Ontario and
Prince Edward Island. Veresen and each of its pipeline,
midstream and power businesses are also actively developing
a number of greenfield projects. In the normal course
of its business, Veresen and each of its businesses
regularly evaluate and pursue acquisition and development
Veresen's common shares, Series A preferred shares, and
5.75% convertible unsecured subordinated debentures, Series
C due July 31, 2017 are listed on the Toronto Stock
Exchange under the symbols "VSN" ,
"VSN.PR.A" and VSN.DB.C", respectively. For
further information, please visit www.vereseninc.com.
denotes trademark of Canaccord Genuity Corp.