/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEW SERVICES./
CALGARY, Feb. 13, 2012 /CNW/ - Vero Energy Inc. (TSX:VRO) ("Vero" or the "Company") announces that it has mailed its Information Circular and Proxy Statement (the "Information Circular") in respect of its special meeting of holders ("Shareholders") of common shares ("Common Shares") of the Corporation scheduled to be held on March 7, 2012 (the "Meeting").
As previously announced, Shareholders will be asked at the Meeting to vote upon a special resolution to approve the proposed one-time cash distribution to Shareholders of
.30 per Common Share (the "Cash Distribution"). If approved at the Meeting, subject to confirmation by the Board of Directors of Vero promptly following the Meeting, the record date for determining Shareholders which will be entitled to the Cash Distribution is expected to be March 20, 2012 and the Cash Distribution is anticipated to be paid on or about March 27, 2012. Assuming a March 20, 2012 record date, the Common Shares would be expected to commence trading on an "ex-distribution" basis on March 16, 2012.
GLTA