Fording announces annual and special meeting
02 Marzo 2005 - 3:02PM
PR Newswire (US)
Fording announces annual and special meeting Trust Reorganization
and Unit Split Proposed CALGARY, March 2 /PRNewswire-FirstCall/ --
Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG) today
announced that its Annual and Special Meeting of Unitholders will
be held on May 4, 2005 at 10:00 a.m. (MST) in the Alberta Room of
the Fairmont Palliser Hotel in Calgary, Alberta. The close of
business on March 28, 2005 has been fixed as the Record Date for
the determination of those unitholders entitled to receive notice
of and to vote at the meeting. At the Annual and Special Meeting,
unitholders will be asked to approve a three-for-one split of the
Trust's units. It is anticipated that the unit split will result in
a corresponding reduction in the market price per unit making them
more affordable for the average investor. Unitholders will also be
asked to provide conditional approval of a two-step reorganization
of the Trust and its subsidiaries. The first step would result in
the creation of a flow-through structure which would effectively
see distributions from Elk Valley Coal Partnership taxed at the
unitholder level. The second step, if undertaken, would be a
transaction whereby the Trust would acquire a direct interest in
the Elk Valley Coal Partnership. In addition to unitholder
approval, completion of each step of the reorganization is subject
to receipt of certain regulatory and third-party approvals. A more
detailed description of the reorganization and the required
approvals will be contained in the Notice of Meeting and Management
Information Circular that will be mailed to unitholders in early
April in advance of the Annual and Special Meeting. About Fording
Fording Canadian Coal Trust is an open-ended mutual fund trust.
Through investments in metallurgical coal and industrial minerals
mining and processing operations, the Trust makes quarterly cash
distributions to unitholders. The Trust, through its wholly-owned
subsidiary, Fording Inc., holds a 60% interest in the Elk Valley
Coal Partnership and is the world's largest producer of the
industrial mineral wollastonite. Elk Valley Coal Partnership,
comprised of Canada's senior metallurgical coal mining properties,
is the world's second largest exporter of metallurgical coal,
currently supplying approximately 25 million tonnes of high-quality
coal products annually to the international steel industry. The
Trust's shares are traded on the Toronto Stock Exchange under the
ticker symbol FDG.UN and on the New York Stock Exchange under the
symbol FDG. Forward-looking Information Certain information
included in this document is of a forward-looking nature.
Forward-looking information is subject to known and unknown risks,
as well as uncertainties and other factors. Accordingly, actual
results may differ materially from those expressed or implied in
forward-looking information. Some of the risks, uncertainties and
other factors affecting Fording Canadian Coal Trust are discussed
in our public filings with the securities regulatory authorities in
Canada and the United States. Copies of Fording Canadian Coal
Trust's Canadian filings, including our most recent management
information circular, annual information form, annual report,
quarterly reports, material change reports and news releases, are
available online at http://www.sedar.com/, and copies of our U.S.
filings, including our most recent annual report on Form 40-F as
supplemented by filings on Form 6-K, are available at
http://www.sec.gov/. Information in this document is presented as
of March 2, 2005 and is subject to change after this date. However,
Fording Canadian Coal Trust disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. DATASOURCE:
Fording Canadian Coal Trust CONTACT: Susan J. Soprovich, Director,
Investor Relations, Fording Canadian Coal Trust, (403) 260-9834,
Email: ; Catherine Hart, Coordinator, Investor Relations, Fording
Canadian Coal Trust, (403) 260-9817; Website:
http://www.fording.ca/
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