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Last updated on April 17, 2014 at 7:54 EDT

Gibson Energy Inc. Adopts Additional Bylaw

March 6, 2013

CALGARY, March 6, 2013 /PRNewswire/ – Gibson Energy Inc. (“Gibson” or the
“Corporation”), TSX: GEI, announced today that its Board of Directors
approved the adoption of a new bylaw of the Corporation (the “New
Bylaw”) on March 5, 2013.  The New Bylaw requires advance notice to the
Corporation in circumstances where nominations of persons for election
as a director of the Corporation are made by shareholders other than
pursuant to: (i) a requisition of a meeting made pursuant to the
provisions of the Business Corporations Act (Alberta) (the “Act”); or (ii) a shareholder proposal made pursuant to
the provisions of the Act.

Among other things, the New Bylaw fixes a deadline by which shareholders
must submit a notice of director nominations to the Corporation prior
to any annual or special meeting of shareholders where directors are to
be elected and sets forth the information that a shareholder must
include in the notice for it to be valid.

In the case of an annual meeting of shareholders, notice to the
Corporation must be made not less than 30 nor more than 65 days prior
to the date of the annual meeting; provided, however, that in the event
that the annual meeting is to be held on a date that is less than 50
days after the date on which the first public announcement of the date
of the annual meeting was made, notice may be made not later than the
close of business on the 10th day following such public announcement. 
In the case of a special meeting of shareholders (which is not also an
annual meeting), notice to the Corporation must be made not later than
the close of business on the 15th day following the day on which the
first public announcement of the date of the special meeting was made.

In addition to the provision of advance notice, the New Bylaw also
provides that a notice or document required to be sent or delivered
pursuant to the bylaws of the Corporation or section 256 or section 257
of the Act may be sent by electronic means.

The New Bylaw is effective immediately. At the next meeting of
shareholders of the Corporation, to be held on May 8, 2013,
shareholders will be asked to confirm and ratify the New Bylaw.

About Gibson

Gibson is one of the largest independent midstream energy companies in
Canada and an integrated service provider to the oil and gas industry
in the United States. Gibson is engaged in the movement, storage,
blending, processing, marketing and distribution of crude oil,
condensate, natural gas liquids, water, oilfield waste and refined
products.  Gibson transports energy products by utilizing its network
of terminals, pipelines, storage tanks, and trucks located throughout
western Canada and through its significant truck transportation and
injection station network in the United States.  Gibson also provides
emulsion treating, water disposal and oilfield waste management
services in Canada and the United States and is the second largest
retail propane distribution company in Canada.

SOURCE Gibson Energy Inc.


Source: PR Newswire