Advanced Fiber Technologies AFT Income Fund Announces its Intention to Terminate the Distribution Reinvestment 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. -- 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) ("Fund") announces its intention to terminate its Distribution Reinvestment Plan reinvestment plan See dividend reinvestment plan (DRIP). ("DRIP"), should the offer by Aikawa Iron Works I´ron works` a. 1. See under Iron, a. os> Co., Ltd. ("Aikawa") become effective. As announced on February 14, 2006, the Fund has entered into a support agreement with Aikawa, pursuant to which Aikawa will, through a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , make a takeover bid to the unitholders of the Fund offering to purchase all of the outstanding units of the Fund. Under the Agreement, the Fund undertook to terminate the DRIP as of the effective date of the takeover by Aikawa. The DRIP was put in place on April 2, 2003 after Advanced Fiber Technologies (AFT) Income Fund and Computershare Trust Company of Canada had entered into a distribution reinvestment plan services agreement. 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 comprises 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 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 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. Further information can be found in the disclosure documents filed by Advanced Fiber Technologies (AFT) Income Fund with the securities regulatory authorities, available at www.sedar.com. Advanced Fiber Technologies (AFT) Income Fund (TSX:AFT.UN) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion