DOCSLIB.ORG

Management Proxy Circular 2021 FINAL 2.Indd

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Management Proxy Circular 2021 FINAL 2.Indd NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS TO BE HELD THURSDAY, MAY 13, 2021 and MANAGEMENT PROXY CIRCULAR Dated April 1, 2021 These materials are important and require your immediate attention. They require holders of common shares of Trican Well Service Ltd. ("Trican") to make important decisions. If you are in doubt as to how to make such decisions, please contact your fi nancial, legal, tax or other professional advisors. If you have any questions or require more information with respect to voting your common shares of Trican, please contact Olympia Trust Company of Canada at 1-866-668-8379 (toll free) or contact: North American Toll-Free Number: 1-888-518-1565 Collect Calls Outside North America: 1-416-867-2272 E-mail: [email protected] Page left intentionally blank. Trican Well Service Ltd. TABLE OF CONTENTS NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS OF TRICAN WELL SERVICE LTD. ......................................... 5 ABOUT THIS CIRCULAR AND RELATED PROXY MATERIALS ............................................................................................................................... 6 Notice-and-Access ...................................................................................................................................................................................................................................6 VOTING INFORMATION ........................................................................................................................................................................................................... 7 Voting Securities and Principal Holders Thereof ....................................................................................................................................................................7 Quorum for the Meeting .....................................................................................................................................................................................................................7 Advance Notice for Director Nominations ................................................................................................................................................................................7 Matters Proposed for Approval ........................................................................................................................................................................................................7 Eligible Voters ..............................................................................................................................................................................................................................................8 Voting Deadline .........................................................................................................................................................................................................................................8 Registered Shareholder Voting .........................................................................................................................................................................................................8 Non-Registered / Benefi cial Shareholder Voting ...................................................................................................................................................................8 PROXY INFORMATION ............................................................................................................................................................................................................. 9 Proxy Instructions .................................................................................................................................................................................................................................. 10 Revoking a Proxy.................................................................................................................................................................................................................................... 10 Virtual Only Meeting ........................................................................................................................................................................................................................... 10 Diffi culties in Accessing the Meeting .........................................................................................................................................................................................11 BUSINESS OF THE MEETING ...............................................................................................................................................................................................11 INFORMATION CONCERNING THE DIRECTOR NOMINEES ................................................................................................................................13 Interlocking Directorships ................................................................................................................................................................................................................20 Governance and Director Selection ...........................................................................................................................................................................................20 Majority Voting for Directors ...........................................................................................................................................................................................................22 Board Tenure and Retirement ........................................................................................................................................................................................................22 Director Orientation and Continuing Education ................................................................................................................................................................22 Independence .........................................................................................................................................................................................................................................23 Environmental, Social and Governance ("ESG") Responsibility .................................................................................................................................. 24 Director Assessments ..........................................................................................................................................................................................................................26 Director Compensation .....................................................................................................................................................................................................................26 Director Summary Compensation Table and Vested Incentive Plan Awards ....................................................................................................27 Incentive Plan Awards .........................................................................................................................................................................................................................28 Share Ownership Guidelines for Non-Management Directors ..................................................................................................................................28 Share Ownership Guidelines for Management Directors .............................................................................................................................................29 Additional Disclosure Relating to Directors ...........................................................................................................................................................................30 Board Committees ................................................................................................................................................................................................................................30 Position Descriptions ........................................................................................................................................................................................................................... 32 Succession Planning ............................................................................................................................................................................................................................ 32 Management Proxy Circular 2021 | 3 Trican Well Service Ltd. INCENTIVE COMPENSATION PLANS ...............................................................................................................................................................................32 Option Plan ............................................................................................................................................................................................................................................... 32 Performance Share Unit Plan ..........................................................................................................................................................................................................34
Load more

Recommended publications
  • Tcw Q4 2020 Md&A
    TRICAN WELL SERVICE LTD. 2020 .............................................................................................. Management's Discussion & Analysis Year Ended December 31, 2020 Trican Well Service Ltd. MANAGEMENT’S DISCUSSION AND Non-GAAP Measures: Trican makes reference to adjusted EBITDA and adjusted EBITDA percentage. These ANALYSIS – FOURTH QUARTER measures are not defined terms under IFRS and are considered non-GAAP measures. Management believes Overview................................................................... 3 that, in addition to net income / (loss), adjusted EBITDA Financial and Operating Highlights........................... 4 and adjusted EBITDA percentage are useful supplemental measures to our investors as management relies on Outlook...................................................................... 7 adjusted EBITDA to better translate historical variability in Trican’s principal business activities into future financial Comparative Quarterly Income Statements ............. 10 forecasts. Non-GAAP financial measures do not have a Comparative Year-To-Date Income Statements ....... 15 standardized meaning under IFRS and may not be comparable to similar financial measures presented by Liquidity and Capital Resources................................ 20 other issuers. These financial measures are reconciled to IFRS measures in the Non-GAAP Measures section of this Summary of Quarterly Results.................................. 23 MD&A. Business Risks.........................................................
    [Show full text]
  • Annual Information Form May 18, 2000 2
    WELL SERVICE LTD. Revised Annual Information Form May 18, 2000 2 TABLE OF CONTENTS Page THE COMPANY ................................................................... 2 BUSINESS OF THE COMPANY .......................................................... 2 Overview ................................................................. 2 History ................................................................... 3 Acquisition of Superior Oilwell Cementers Inc. ..................................... 4 Acquisition of Northline Energy Services Inc. ...................................... 4 Well Servicing Operations ..................................................... 4 Future Plans ............................................................... 5 SELECTED FINANCIAL INFORMATION ................................................... 6 MANAGEMENT’S DISCUSSION AND ANALYSIS ............................................. 7 ENVIRONMENTAL MATTERS .......................................................... 7 DIRECTORS AND OFFICERS ........................................................... 7 DIVIDEND RECORD AND POLICY ...................................................... 10 MARKET FOR COMMON SHARES OF THE COMPANY ....................................... 10 ADDITIONAL INFORMATION ......................................................... 10 THE COMPANY Trican Well Service Ltd. (“Trican” or the “Company”) was incorporated under the Companies Act (Alberta) on April 11, 1979 under the name 216858 Oilwell Service Co. Ltd. The Company’s name was changed to Trican Oilwell
    [Show full text]
  • INVESTOR PRESENTATION May 2021 FORWARD LOOKING STATEMENTS
    INVESTOR PRESENTATION May 2021 FORWARD LOOKING STATEMENTS This document contains statements that constitute forward-looking statements within the meaning of applicable securities legislation. These forward-looking statements include, among others, the Company’s prospects, expected revenues, expenses, profits, expected developments and strategies for its operations, and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “achieve”, “achievable,” “believe,” “estimate,” “expect,” “intend”, “plan”, “planned”, and other similar terms and phrases. Forward-looking statements are based on current expectations, estimates, projections and assumptions that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; and availability of products, qualified personnel, manufacturing capacity and raw materials. If any of these uncertainties materialize, or if assumptions are incorrect, actual results may vary materially from those expected. 2 WHO WE ARE . Trican is a leading Canadian energy services company, servicing wells in Drilling western Canada for more than 24 Cycle Completion Cycle years • Cementing Services • Fracturing . Our goal is to generate industry • Coil Tubing leading returns in an environmentally and socially responsible manner CUSTOMER . Provide specialized products and Full Cycle Technical services using equipment required for Production Expertise Cycle the exploration and development of oil and gas reserves • Engineering Support • Coil Tubing • Reservoir Expertise •Acidizing • Laboratory • Chemical Services Services .
    [Show full text]
  • Platform for Growth
    PLATFORM FOR GROWTH 2012 Annual Report Trican Well Service Ltd. CORPORATE PROFILE Trican Well Service Ltd. (“Trican”) is a provider of pressure pumping and completion services in the global marketplace. A technical and operational leader, Trican’s experience in pressure pumping is among the most extensive in the industry. Trican offers services throughout key oil and gas plays in Canada, the United States and Russia, and has growing operations in many other active regions around the world. Trican became a public company in 1996, and since then has invested more than $2.5 billion in capital expenditures and acquisitions, expanding its equipment, infrastructure and capabilities. As a result of its strategic expansion program, Trican has evolved from a regional supplier of cementing services to one of the world’s largest pressure pumping companies. Trican employs a disciplined and scientific approach to research and development that delivers innovative products and processes, while addressing a shared commitment to safety, quality and reducing our impact on the environment. Services provided include fracturing, cementing, coiled tubing, acidizing, nitrogen, reservoir management, industrial cleaning and pipeline services, and completion systems and downhole tool services. Trican’s shares trade on The Toronto Stock Exchange under the symbol “TCW”. NOTICE OF ANNUAL MEETING ANNUAL FINANCIAL STATEMENTS Trican will be holding its annual general AND MD&A and special meeting at 2 p.m. on May 9, For further information on Trican’s 2012 financial 2013, in the Metropolitan Centre located at results, please refer to Trican’s financial statements 333-4th Ave SW, Calgary, Alberta, Canada. and Management’s Discussion and Analysis (MD&A) for the years ended December 31, 2012 and 2011, available on SEDAR at www.sedar.com or our website at www.trican.ca.
    [Show full text]
  • ANNUAL INFORMATION FORM Year Ended
    ANNUAL INFORMATION FORM Year Ended December 31, 2016 March 29, 2017 TABLE OF CONTENTS Page FORWARD-LOOKING INFORMATION AND STATEMENTS ...................................................................... 1 GLOSSARY .................................................................................................................................................. 2 TRICAN WELL SERVICE LTD. .................................................................................................................... 4 Incorporation History ................................................................................................................................. 4 Intercorporate Relationships ..................................................................................................................... 4 GENERAL DEVELOPMENT OF THE BUSINESS ....................................................................................... 4 Recent Transactions ................................................................................................................................. 4 DESCRIPTION OF THE BUSINESS AND OPERATIONS ........................................................................... 6 General ...................................................................................................................................................... 6 Continuing Operations - Canada .......................................................................................................... 7 Competitive Conditions ........................................................................................................................
    [Show full text]
  • Investor Presentation
    Investor Presentation March 2015 FORWARD LOOKING STATEMENTS This document contains statements that constitute forward-looking statements within the meaning of applicable securities legislation. These forward-looking statements include, among others, the Company’s prospects, expected revenues, expenses, profits, expected developments and strategies for its operations, and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “achieve”, “achievable,” “believe,” “estimate,” “expect,” “intend”, “plan”, “planned”, and other similar terms and phrases. Forward-looking statements are based on current expectations, estimates, projections and assumptions that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; and availability of products, qualified personnel, manufacturing capacity and raw materials. If any of these uncertainties materialize, or if assumptions are incorrect, actual results may vary materially from those expected. 2 OVERVIEW OF TRICAN . Large, world-wide, full service REVENUE BY GEOGRAPHY pressure pumping company Year ending December 31, 2014 International . International 13% Canada • Russia (majority) 45% • Kazakhstan • Australia • Norway USA • Saudi Arabia 42% 3 TRICAN STRENGTHS 4 TRICAN STRENGTHS . Focus on safety, technology, and operational performance Historical Fracturing HP . Significant earnings potential on 1,400,000 1,200,000 existing assets 1,000,000 800,000 . 1,193,000 HP available 600,000 fracturing capacity 400,000 • 280,000 HP currently idle 200,000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015* .
    [Show full text]
  • March 21, 2013 TABLE of CONTENTS
    ANNUAL INFORMATION FORM Year Ended December 31, 2012 March 21, 2013 TABLE OF CONTENTS Page FORWARD-LOOKING INFORMATION AND STATEMENTS ............................................................................... 1 TRICAN WELL SERVICE LTD. ................................................................................................................................. 2 Incorporation History ................................................................................................................................................ 2 Intercorporate Relationships ...................................................................................................................................... 3 GENERAL DEVELOPMENT OF THE BUSINESS .................................................................................................... 3 History ....................................................................................................................................................................... 3 Canada ................................................................................................................................................................... 4 United States .......................................................................................................................................................... 5 Russia .................................................................................................................................................................... 6 Kazakhstan ...........................................................................................................................................................
    [Show full text]
  • INVESTOR PRESENTATION February 2017 FORWARD LOOKING STATEMENTS
    INVESTOR PRESENTATION February 2017 FORWARD LOOKING STATEMENTS This document contains statements that constitute forward-looking statements within the meaning of applicable securities legislation. These forward-looking statements include, among others, the Company’s prospects, expected revenues, expenses, profits, expected developments and strategies for its operations, and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “achieve”, “achievable,” “believe,” “estimate,” “expect,” “intend”, “plan”, “planned”, and other similar terms and phrases. Forward-looking statements are based on current expectations, estimates, projections and assumptions that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; and availability of products, qualified personnel, manufacturing capacity and raw materials. If any of these uncertainties materialize, or if assumptions are incorrect, actual results may vary materially from those expected. 2 OVERVIEW OF TRICAN . Full service, Canadian pressure pumping company YEAR TO DATE SEPTEMBER 30, 2016 Revenue by Service Line . Market leader in Canada 5% 5% 3% 3% . 440,000 HP available fracturing capacity 26% . Large Cement, Coiled Tubing, Acidizing, Nitrogen and Industrial 58% Services business Fracturing Coiled Tubing . Focus on safety, technology, and Cementing Acid & Specialty Chemicals operational performance Nitrogen Industrial & Pipeline Services 3 CANADA CANADA . Trican is the largest pressure pumper in Canada .
    [Show full text]
  • Trican and Canyon to Combine to Create Premier Canadian Pressure Pumping Company
    Trican and Canyon to Combine to Create Premier Canadian Pressure Pumping Company Wednesday, March 22, 2017 Calgary, AB – Trican Well Service Ltd. (“Trican”)(TSX:TCW) and Canyon Services Group Inc. (“Canyon”)(TSX:FRC) are pleased to announce that they have entered into an arrangement agreement (the “Arrangement Agreement”) pursuant to which Trican has agreed to acquire all of the issued and outstanding common shares of Canyon (the “Canyon Shares”) on the basis of 1.70 common shares of Trican (the “Trican Shares”) for each outstanding Canyon Share (the “Transaction”). The consideration to be received by Canyon shareholders reflects a value of $6.63 per Canyon Share based on the closing price of Trican Shares on the Toronto Stock Exchange (the “TSX”) on March 21, 2017, which represents a 32% premium over the closing price of Canyon Shares on the TSX on March 21, 2017. The aggregate Transaction value is approximately $637 million, including the assumption of approximately $40 million in Canyon debt. Upon completion of the Transaction, existing holders of Trican Shares and Canyon Shares will collectively own approximately 56% and 44% of the combined company, respectively. “This combination with Canyon will create a Western Canadian based leading energy services firm that has the asset base, efficient cost structure and financial capacity to create value for all of our combined stakeholders” said Dale Dusterhoft, Trican’s President and Chief Executive Officer. “We have always held Canyon in very high regard and look forward to welcoming the
    [Show full text]
  • NOTICE of ANNUAL and SPECIAL MEETING of SHAREHOLDERS to BE HELD THURSDAY, MAY 9, 2019 and MANAGEMENT PROXY CIRCULAR
    NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS TO BE HELD THURSDAY, MAY 9, 2019 and MANAGEMENT PROXY CIRCULAR Dated March 28, 2019 These materials are important and require your immediate attention. They require holders of common shares of Trican Well Service Ltd. ("Trican") to make important deci- sions. If you are in doubt as to how to make such decisions, please contact your fi nancial, legal, tax or other professional dvisors.a If you have any questions or require more information with respect to voting your common shares of Trican, please contact Computershare Trust Company of Canada at 1-800-564-6253 (toll free) or contact: North American Toll-Free Number: 1-888-518-1565 Collect Calls Outside North America: 1-416-867-2272 E-mail: [email protected] Page left intentionally blank. Trican Well Service Ltd. TABLE OF CONTENTS NOTICE OF ANNUAL & SPECIAL MEETING OF SHAREHOLDERS OF TRICAN WELL SERVICE LTD. .................................................5 ABOUT THIS CIRCULAR AND RELATED PROXY MATERIALS ............................................................................................................................... 6 Notice-and-Access ...................................................................................................................................................................................................................................6 VOTING INFORMATION ..........................................................................................................................................................................................................
    [Show full text]
  • Tcw Q4 2019 Md&A
    TRICAN WELL SERVICE LTD. 2019 .............................................................................................. Management's Discussion & Analysis Year Ended December 31, 2019 Trican Well Service Ltd. MANAGEMENT’S DISCUSSION AND Non-GAAP Measures: Trican makes reference to adjusted EBITDA and adjusted EBITDA percentage. These ANALYSIS – 2019 measures are not defined terms under IFRS and are considered non-GAAP measures. Management believes Overview................................................................... 3 that, in addition to net income / (loss), adjusted EBITDA Financial and Operating Highlights........................... 4 and adjusted EBITDA percentage are useful supplemental measures to our investors as management relies on Outlook...................................................................... 7 adjusted EBITDA to better translate historical variability in Trican’s principal business activities into future financial Comparative Quarterly Income Statements ............. 10 forecasts. Non-GAAP financial measures do not have a Comparative Year-To-Date Income Statements ....... 14 standardized meaning under IFRS and may not be comparable to similar financial measures presented by Liquidity and Capital Resources................................ 18 other issuers. These financial measures are reconciled to IFRS measures in the Non-GAAP Measures section of this Summary of Quarterly Results.................................. 22 MD&A. Business Risks.......................................................... 26 Other
    [Show full text]
  • People Strength
    W E L L S E R V I C E LT D. peopleour our strength 2005 ANNUAL REPORT table of contents 2005 HIGHLIGHTS 2 FINANCIAL SUMMARY & OPERATIONAL HIGHLIGHTS 3 PRESIDENT’S MESSAGE 4 OPERATIONS OVERVIEW 6 MANAGEMENT’S DISCUSSION AND ANALYSIS 12 MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS 36 AUDITORS’ REPORT TO SHAREHOLDERS 37 CONSOLIDATED FINANCIAL STATEMENTS 38 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 41 SUPPLEMENTAL FINANCIAL DATA 52 CORPORATE INFORMATION IBC Since its initial public offering in December 1996, corporate Trican has invested almost $372 million in new equipment profile and operating facilities, added new services to its business and expanded the scope of its operations to encompass the entire WCSB. As a result of its aggressive expansion program, Headquartered in Calgary, Alberta, Trican’s principal Trican has evolved from a regional supplier of cementing operations are in Canada; however, the Company also services to one of the largest well service companies has operations in Russia and Kazakhstan. The Canadian operating in Western Canada. operations are conducted through bases in British Columbia, Alberta and Saskatchewan, and provide services to customers Through its operating divisions, Trican competes in the across the entire Western Canadian Sedimentary Basin major sectors of the oilfield pressure pumping industry, (WCSB). International operations are conducted through which include coiled tubing, fracturing, nitrogen pumping, bases in the Tyumen region of western Siberia in the towns cementing and acidizing services. Since its public offering, of Raduzhny, Nyagan and Nefteugansk in Russia and in the Company’s strategy has been to expand from its original Kyzylorda, Kazakhstan. Trican provides a comprehensive cementing services to the more technically advanced, array of specialized products, equipment and services that higher margin services of coiled tubing, fracturing and are used by exploration and production companies during the nitrogen services.
    [Show full text]