Market Overview

Nexen Files Information Circular and Proxy Statement in Connection with Special Meeting of Shareholders

Nexen Inc. (NYSE: NXY) announced
today that it has filed its information circular and proxy statement
(the "Circular") with Canadian securities regulators and the U.S.
Securities Exchange Commission in preparation for its special meeting
of shareholders to be held on Thursday, September 20, 2012 at 8:00 am
Mountain Time (10:00 am Eastern Time) at the Metropolitan Centre, 333 -
4th Avenue S.W., Calgary, Alberta. The Circular is available at www.nexeninc.com, www.sedar.com and www.sec.gov.

The Board of Directors unanimously recommends, for the reasons set out
in the Circular, that Nexen common and preferred shareholders vote FOR
the special resolutions to approve the statutory plan of arrangement
(the "Arrangement") involving Nexen, CNOOC Limited and CNOOC Canada
Holding Ltd. to be implemented pursuant to the arrangement agreement
entered into on July 23, 2012.

Shareholders of record on August 16, 2012 will receive notice of and be
entitled to vote at the special meeting. The Circular, which
shareholders are expected to receive in the coming days, provides
information on, among other things, the Arrangement and voting
procedures.

In accordance with the arrangement agreement, Nexen suspended its
dividend reinvestment plan on July 26, 2012.

Completion of the Arrangement is conditional upon approval

See full press release

Posted-In: News M&A

 

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