Enerplus Receives Unitholder Approval on Proposed Conversion to a Corporation
December 09 2010 - 12:41PM
PR Newswire (Canada)
CALGARY, Dec. 9 /CNW/ -- CALGARY, Dec. 9 /CNW/ - Enerplus Resources
Fund (the "Fund") (TSX ERF.un, NYSE - ERF) is pleased to announce
that at a special meeting of Unitholders held today in Calgary, the
proposal to convert from an income trust to a corporation named
Enerplus Corporation was overwhelmingly approved by 98.5% of
unitholders, pursuant to a plan of arrangement under the Business
Corporations Act (Alberta) and related transactions. The Fund will
seek approval of the plan of arrangement by the Court of Queen's
Bench of Alberta on December 10, 2010. The corporate conversion is
expected to be completed on January 1, 2011. Shares in Enerplus
Corporation will commence trading on the Toronto Stock Exchange as
ERF on or around January 10, 2011, at which time the Fund's trust
units ("ERF.un") will discontinue trading. Enerplus shares will
continue trading as usual on the New York Stock Exchange as "ERF"
throughout the conversion process. Gordon J. Kerr President &
Chief Executive Officer Enerplus Resources Fund Except for the
historical and present factual information contained herein, the
matters set forth in this news release, including words such as
"expects", "projects", "plans" and similar expressions, are
forward-looking information that represents management of Enerplus'
internal projections, expectations or beliefs concerning, among
other things, the anticipated closing of the conversion of Enerplus
from a trust to a corporation,. The projections, estimates and
beliefs contained in such forward-looking statements necessarily
involve known and unknown risks and uncertainties, which may cause
Enerplus' actual performance and financial results in future
periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, among other
things, failure to obtain the necessary approvals for the trust
conversion and those described in Enerplus' filings with the
Canadian and U.S. securities authorities. Accordingly, holders of
Enerplus securities and potential investors are cautioned that
events or circumstances could cause results to differ materially
from those predicted. please contact Investor Relations at
1-800-319-6462 or e-mail investorrelations@enerplus.com
Copyright
Enerplus (NYSE:ERF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Enerplus (NYSE:ERF)
Historical Stock Chart
From Sep 2023 to Sep 2024