TORONTO, ONTARIO--(Marketwire - June 18, 2012) - The concerned shareholders of Alberta Oilsands Inc. ("AOS" or the "Company") today announced that they are submitting a formal filing with the Alberta Securities Commission (the "Commission") against AOS, regarding concerns over selective disclosure by AOS management and board to Wellington Management Company, LLP ("Wellington"), a major shareholder, in connection with a potential material transaction involving AOS and another oilsands company, perhaps at Wellington's behest.
The concerned shareholders are asking the Commission to investigate whether AOS management and board have engaged in selective disclosure with Wellington in connection with the above noted potential material transaction that has not been publicly announced. The concerned shareholders are concerned that such potential transaction may only be in the best interest of certain AOS shareholders, as opposed to all AOS shareholders. The concerned shareholders are asking the Commission to immediately cease-trade the AOS securities held by Wellington and its affiliated co-managed or related investment funds.
Fellow AOS shareholders are urged to read the information circular prepared by the concerned shareholders, and to seize this opportunity and vote the GREEN proxy for the concerned shareholder nominees.
Shareholders who have voted the management proxy and wish to support the concerned shareholders have the right to change their vote by simply executing a GREEN proxy. A later-dated GREEN proxy replaces a previous recorded vote.
GREEN proxies should be returned no later than June 25, 2012 at 5:00 P.M. (Calgary Time).
For assistance and ease with voting your GREEN proxy, please contact Phoenix Advisory Partners (toll-free) at 1-800-294-4817 or visit www.saveAOS.com where the GREEN proxy can be easily voted by clicking on the large green "Vote Now" button and simply inputting the Control number on your GREEN proxy.
Contact Information:
Susy Monteiro
Senior Vice President
(647) 351-3085 ext. 222