STEP Energy Services Ltd. Receives Positive Recommendations from Leading Proxy Advisors
CALGARY, Alberta–(BUSINESS WIRE)–STEP Energy Services Ltd. (“STEP” or the “Company”) is pleased to announce that both leading independent proxy advisors, Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), have issued recommendations that shareholders of STEP (“STEP Shareholders”) vote FOR the previously announced plan of arrangement (the “Arrangement”) with 2659160 Alberta Ltd. (the “Purchaser”) and the limited partnerships comprising ARC Energy Fund 8.
STEP Energy Services Ltd. is a professionally managed company based in Calgary, Alberta, with a strong focus on education, profit, and intense performance. The recent recommendations from ISS and Glass Lewis are a testament to the soundness of the Arrangement that STEP has entered into with the Purchaser and ARC Energy Fund 8. This positive feedback from two reputable proxy advisory firms is a validation of the Company’s strategic direction and commitment to maximizing shareholder value.
ISS and Glass Lewis are known for their in-depth analysis and independent recommendations on corporate governance and shareholder matters. Their endorsement of the Arrangement indicates that it is in the best interest of STEP Shareholders to vote in favor of the transaction. The Arrangement represents a significant opportunity for shareholders to realize value and participate in the growth and success of the combined entity.
Impact on Individual Shareholders
For individual shareholders of STEP Energy Services Ltd., voting in favor of the Arrangement could result in a favorable outcome in terms of financial returns. The proposed transaction with the Purchaser and ARC Energy Fund 8 has been carefully evaluated by ISS and Glass Lewis, and their recommendations suggest that it offers a compelling value proposition for shareholders. Approving the Arrangement could lead to potential upside for individual investors and an opportunity to benefit from the combined strengths of the entities involved.
Impact on the World
From a broader perspective, the positive recommendations from ISS and Glass Lewis regarding the Arrangement also have implications for the energy services industry and the business world at large. The endorsement of this transaction highlights the stability and growth potential of companies operating in the energy sector, particularly those with a focus on innovation, efficiency, and strategic partnerships. By supporting the Arrangement, shareholders are not only positioning themselves for financial success but also contributing to a positive trend in the global business landscape.
Conclusion
In conclusion, the positive recommendations from leading proxy advisors ISS and Glass Lewis affirm the value and potential of the Arrangement between STEP Energy Services Ltd., the Purchaser, and ARC Energy Fund 8. Shareholders are encouraged to vote in favor of the transaction to seize the opportunities presented and contribute to the ongoing success of the Company. The impact of this decision goes beyond individual shareholders and has broader implications for the energy services industry and the global business community.
