Fording Unitholders Endorse Reorganization of the Trust
05 Mai 2005 - 3:50AM
PR Newswire (US)
Fording Unitholders Endorse Reorganization of the Trust Fording
Reports Outcome of 2005 Annual and Special Meeting of Unitholders
CALGARY, May 4 /PRNewswire-FirstCall/ -- Fording Canadian Coal
Trust (TSX: FDG.UN, NYSE: FDG)announced that in excess of 99% of
votes cast by unitholders at today's Annual and Special Meeting
were voted in favour of all resolutions put before the meeting,
including the proposed reorganization of the Trust. Unitholders
approved the resolutions as described in the management information
circular dated April 2, 2005, including: - The passing of a special
resolution regarding the reorganization; - The passing of a special
resolution to provide for the subdivision of units on a
three-for-one basis at the discretion of the Trustees in the event
that the reorganization is, for any reason, not completed; and -
The passing of a special resolution authorizing the amendment of
articles of Fording Inc. to remove the "private company
restrictions". Completion of the reorganization transaction is
dependant on receipt of certain judicial, regulatory and
third-party approvals, including an advance tax ruling, and the
determination of the Trustees' discretion to proceed with the
reorganization. The subdivision of units will proceed either in
association with the reorganization or at such time that the
Trustees exercise their discretion to proceed. In the latter case,
the subdivision record date will be seven trading days after the
date of a news release announcing the Trustees' decision. A copy of
the voting results is available at http://www.sedar.com/. 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, and
expects to supply approximately 27 million tonnes of high-quality
coal products to the international steel industry in 2005. 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 May 4, 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, (403) 260-9834; Catherine Hart, Coordinator,
Investor Relations, (403) 260-9817; Email: , Website:
http://www.fording.ca/
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