PrimeWest Energy Trust Announces Court Approval of Arrangement With TAQA
23 Novembro 2007 - 11:04PM
Marketwired
CALGARY, ALBERTA (TSX: PWI.UN) (TSX: PWX) (TSX: PWI.DB.A) (TSX:
PWI.DB.B) (TSX: PWI.DB.C) (NYSE: PWI) announces that the Court of
Queen's Bench of Alberta granted earlier today a final order
approving the arrangement ("Arrangement") which provides for the
acquisition by 1350849 Alberta Ltd. ("Purchaser") a wholly-owned
subsidiary of Abu Dhabi National Energy Company PJSC ("TAQA"), of
all of the issued and outstanding securities of PrimeWest for a
cash consideration equivalent to C$26.75 per Trust Unit.
Securityholders of PrimeWest at a Special Meeting held on
Wednesday, November 21, 2007 voted over 95% in favour of the
Arrangement. 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".
To learn more about PrimeWest, please visit our website at
www.primewestenergy.com.
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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