APF Announces Monthly Distribution of $0.12 Per Unit.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--May 7, 1998--APF Energy Trust (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AY.UN) announced that the cash distribution for the production month of April 1998 will be $0.12 per unit. The distribution will be made on June June: see month. 15, 1998 to unitholders of record on May 15, 1998. The Trust also announced that the record date, currently the 15th day of each month, will be changed to the last day of the month. The payment date will remain the 15th day of the following month. Accordingly, the next distribution will be announced on June 30, 1998 and payment will be made on July 15, 1998. The manager of the Trust believes that having a later record date will minimize accruals Accruals Accounts on a balance sheet that represent liabilities and non-cash-based assets used in accrual-based accounting. These accounts include, among many others, accounts payable, accounts receivable, goodwill, future tax liability and future interest expense. for production revenue and costs. With this latest payment, unitholders will have received $1.01 per unit since January 1, 1998. -0- APF ENERGY TRUST MARKET & INVESTOR INFORMATION Date of IPO Dec. 17/96 TSE symbol AY.UN Units outstanding 3.5 million Issue price $10.00 Dec. 31/97 closing price $9.10 52-week high $10.30 52-week low $8.65 Recent price $9.50 Market capitalization $32.9 million Distributions since IPO $2.52/unit 1997 distributions declared $1.78/unit 1997 distribution rate 19.6 percent -0- The Toronto stock exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved of the contents of this news release. CONTACT: APF APF, n the abbreviation for acidulated phosphate fluoride. Energy Management Inc. Steve Cloutier, 403/294-1000 http://www.apfenergy.com invest@apfenergy.com |
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