Advanced Fiber Technologies (AFT) Income Fund Modifies its Unitholders Rights Plan.LENNOXVILLE, Quebec Lennoxville, population 4,963 (2001), is a borough (Fr. arrondissement) of the City of Sherbrooke, Quebec, Canada. It was originally a town, but was amalgamated into the larger city of Sherbrooke in 2002. -- On September 24, 2004, the Trustees of Advanced Fiber Technologies (AFT) Income Fund (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AFT.UN) approved the adoption of a Unitholders Rights Plan, subject to unitholders' approval at AFT's annual and special meeting scheduled for March 23, 2005.A summary of the Unitholders Rights Plan Agreement was provided in the management proxy circular forwarded to unitholders for such upcoming unitholder meeting.Fairvest Corporation has suggested that AFT make certain modifications to the Plan. Following discussions with Fairvest Corporation, the Trustees of Advanced Fiber Technologies (AFT) Income Fund approved certain modifications to the Plan on March 15, 2005.The modifications do not change the Plan in a significant manner.Some definitions have been specified, including the notion of independent unitholder which has been modified to include pension plans as well as the concept of pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. acquisition which has been modified to include a cap on acquisitions made pursuant to the acquisition or exercise of certain rights.Further, the obligation to obtain prior unitholder approval with respect to certain redemption and waiver provisions of the Plan have been added.Following such modifications, Fairvest Corporation has declared itself satisfied with the modifications and has issued a recommendation to its clients to vote in favour of the modified Plan. The Unitholders of Advanced Fiber Technologies (AFT) Income Fund who will attend the Unitholders Annual and Special Meeting on March 23, 2005 will receive a copy of the modified Plan and will be asked to vote in favour of a resolution approving, ratifying and confirming the modified Plan.All proxies that have been or will be submitted directing to vote in favour of the Plan will be voted in favour of the modified Plan.A copy of the modified plan can be found on the website of AFT at the following address: www.aft-global.com. About AFT Advanced Fiber Technologies (AFT) Income Fund is a limited purpose trust established to hold the securities of Advanced Fiber Technologies (AFT) Trust. AFT is one of the oldest and largest producers of pulp screening components, having celebrated its 100th year of operations in March 2003. AFT's product portfolio is comprised of three distinct but complementary technologies: pulp screening, pulp refining and pulp dewatering Dewatering (dē′wöd·ər·iŋ) is the removal of water from solid material or soil by wet classification, centrifugation, filtration, or similar solid-liquid separation processes. . Pulp screening components are used to separate contaminants from pulp, a process that is critical to ensuring the quality of the pulp and the quality of the resulting paper products. Pulp refining is adjacent to the pulp screening process and is mostly used to enhance pulp properties. Dewatering is a process used to thicken thick·en tr. & intr.v. thick·ened, thick·en·ing, thick·ens 1. To make or become thick or thicker: Thicken the sauce with cornstarch. The crowd thickened near the doorway. 2. pulp or to increase consistency of sludge sludge (sluj) a suspension of solid or semisolid particles in a fluid which itself may or may not be a truly viscous fluid. sludge a suspension of solid or semisolid particles in a fluid. before disposal. Forward-looking Information The statements contained in this news release that are forward-looking are based on current expectations, and are subject to a number of uncertainties and risks, and actual results may differ materially. These uncertainties and risks include, but are not limited to: the dependence on certain key suppliers, competitive pressures and changes in market activity, risks associated with international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and foreign exchange, legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. , environmental, health and safety and other regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. . Further information can be found in the disclosure documents filed by Advanced Fiber Technologies (AFT) Income Fund with the securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities , available at www.sedar.com. ADVANCED FIBER TECHNOLOGIES (AFT) INCOME FUND (TSX:AFT.UN) |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion