ALBERTA NATURAL GAS COMPANY ANNOUNCES BOARD OF DIRECTORS FORMS SPECIAL COMMITTEE.CALGARY, ALBERTA--(BUSINESS WIRE)--The Board of Directors of Alberta Natural Gas Company Ltd. ("ANG ANG In currencies, this is the abbreviation for the NL Antillian Guilder. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ") today announced that a committee of independent directors (the "Special Committee") has been formed to consider the proposal recently received from TransCanada Pipelines The TransCanada pipeline is a system of natural gas pipelines, up to 48 inches (1219 millimetres) in diameter, that carries gas through Alberta, Saskatchewan, Manitoba, Ontario and Quebec. It is maintained by TransCanada PipeLines, LP. It is the longest pipeline in Canada. Limited ("TCPL") to offer to purchase all of the shares of ANG not already owned by TCPL at a price of $25.75 per share either in cash, or TCPL common shares. The Special Committee has engaged TD Securities Inc. as its financial advisor and to prepare the Valuation of ANG's shares pursuant to Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. Policy 9.1. In addition, the Special Committee has also retained the law firm of Tory Tory DesLauriers & Binnington as its legal advisor. ANG is a Calgary based corporation engaged in specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. and natural gas gathering, processing, marketing, storage and transportation. ANG's common shares are listed on the Toronto, Montreal, Vancouver and Alberta stock exchanges Alberta Stock Exchange See Canadian Venture Exchange (CDNX). and trade under the symbol ANG. CONTACT: David M. Dominy Chief Financial Officer, 403/691-7840 |
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