Fording Announces Securityholder Approval of Proposed Sale of Assets to Teck Cominco
Fording Canadian Coal Trust announced that the Fording securityholders have approved the plan of arrangement respecting the announced sale of Fording’s assets to Teck Cominco Limited. The special resolution to approve the transaction received the support of 98.71% of the votes cast by securityholders voting together as a single class and 98.70% of the votes cast by unitholders voting separately. In addition, 98.06% of the units voted at the meeting, excluding units held by Teck and persons related or affiliated with Teck, were voted in favour of the resolution. No notices of the exercise of dissent rights respecting the arrangement were received by Fording. The court hearing in respect of the final order to approve the arrangement is scheduled to occur at 1:15 p.m. (Calgary time) today and Fording will issue a further press release to announce the results of the hearing.
A copy of the voting results from the special meeting has been filed on SEDAR at www.sedar.com and on Fording’s website at www.fording.ca.
As a result of the securityholder approval of the arrangement and further to Fording’s news release dated September 9, 2008, Fording announces that its Premium Distribution(TM) and Distribution Reinvestment Plan has been terminated effective today.
Fording Canadian Coal Trust is an open-ended mutual fund trust and one of the largest royalty trusts in Canada. Fording holds a 60% interest in the metallurgical coal operations of the Elk Valley Coal Partnership. Fording’s units are traded on the TSX under the symbol FDG.UN and on the NYSE under the symbol FDG.