(Source: PrimeNewswire)
HOUSTON, May 28, 2009 (GLOBE NEWSWIRE) -- T-3 Energy Services, Inc. (Nasdaq:TTES) announced that it has filed with the SEC and mailed to its stockholders additional definitive proxy soliciting materials in connection with the upcoming 2009 Annual Meeting of Stockholders on June 4, 2009. A copy of the additional definitive proxy soliciting materials is set forth at the end of this press release.
T-3 Energy Services, Inc. provides a broad range of oilfield products and services primarily to customers in the drilling and completion of new oil and gas wells, the workover of existing wells and the production and transportation of oil and gas.
T-3 Energy Services, Inc. 7135 Ardmore Houston, Texas 77054
May 27, 2009
Dear Stockholder:
Recently, T-3 Energy Services, Inc. mailed its 2009 Annual Meeting of Stockholders materials, which included a Proxy Statement.
Due to a typographical error, the burn rate commitment disclosure on Proposal Two on page 37 was incorrect. Specifically, the sentence that reads,
* "In order to facilitate approval of this proposal and assuage any stockholder concerns regarding the number of equity awards we intend to grant in any given year, our prospective three-year average burn rate with respect to the number of equity awards granted will not exceed the greater of two percent of our shares outstanding or the mean of our Global Industry Classification Standards Peer Group (1010 Energy)."
should have read:
* "In order to facilitate approval of this proposal and assuage any stockholder concerns regarding the number of equity awards we intend to grant in any given year, our prospective three-year average burn rate with respect to the number of equity awards granted will not exceed the greater of two percent of our shares outstanding or the mean of our Global Industry Classification Standards Peer Group (1010 Energy) plus one standard deviation, which currently equals 3.09%.
We have discussed our three-year average burn rate commitment with RiskMetrics. Previously, RiskMetrics has supported the adoption of the Amended and Restated 2002 Stock Incentive Plan. With this clarification, RiskMetrics has confirmed that they will continue to support the adoption of the Amended and Restated 2002 Stock Incentive Plan.
Enclosed with this letter is a restatement of the subsection "Purpose of the Proposal" included within Proposal Two in the Proxy Statement.
We sincerely apologize for this error.
Sincerely, Steven W.
