PrimeWest Energy Trust Announces Brief Postponement of Final Court Approval of Arrangement With TAQA
22 Novembre 2007 - 10:01PM
Marketwired
CALGARY, ALBERTA (TSX: PWI.UN) (TSX: PWX) (TSX: PWI.DB.A) (TSX:
PWI.DB.B) (TSX: PWI.DB.C) (NYSE: PWI) announces that an application
was commenced before the Court of Queen's Bench of Alberta today
for a final order approving the Arrangement pursuant to which
1350849 Alberta Ltd., a wholly-owned subsidiary of Abu Dhabi
National Energy Company PJSC, would acquire all of the issued and
outstanding securities of PrimeWest for a cash consideration
equivalent to C$26.75 per Trust Unit. As previously announced, at a
Special Meeting held yesterday, Securityholders of PrimeWest voted
over 95% in favour of the Arrangement.
The hearing of the application will be completed on Friday,
November 23, 2007. Completion of the Arrangement remains subject to
closing conditions typical for a transaction of this nature.
PrimeWest is a Calgary-based conventional oil and gas royalty
trust that actively acquires, develops, produces and sells natural
gas, crude oil and natural gas liquids for the generation of
monthly cash distributions to Unitholders. Trust Units of PrimeWest
trade on the Toronto Stock Exchange (TSX) under the symbol "PWI.UN"
and on the New York Stock Exchange under the symbol "PWI".
Exchangeable Shares of PrimeWest Energy Inc. trade on the TSX under
the symbol "PWX". Series I Convertible Debentures of PrimeWest
trade on the TSX under the symbol "PWI.DB.A", Series II Convertible
Debentures trade under the symbol "PWI.DB.B" and Series III
Convertible Debentures trade under the symbol "PWI.DB.C".
Contacts: PrimeWest Energy Trust George Kesteven Manager,
Investor Relations (403) 699-7367 or Toll-free: 1-877-968-7878
PrimeWest Energy Trust Debbie Carver Investor Relations Advisor
(403) 699-7464 or Toll Free: 1-877-968-7878 Email:
investor@primewestenergy.com Website: www.primewestenergy.com
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