Fording Announces Securityholder Approval of Proposed Sale of Assets to Teck Cominco
September 30 2008 - 2:05PM
Marketwired
Fording Canadian Coal Trust (TSX: FDG.UN) (NYSE: FDG) today
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.
About Fording
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.
Forward-Looking Information Advisory
This press release contains forward-looking information within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and the Ontario Securities Act relating, but not
limited to, Fording's expectations, intentions, plans and beliefs.
Forward-looking information can often be identified by
forward-looking or similar words suggesting future outcomes, or
other expectations, beliefs, plans, objectives, assumptions,
intentions or statements about future events or performance.
Holders of units are cautioned not to place undue reliance on
forward-looking information. By its nature, forward-looking
information involves numerous assumptions, known and unknown risks
and uncertainties, of both a general and specific nature, that
could cause actual results to differ materially from those
suggested by the forward-looking information or contribute to the
possibility that predictions, forecasts or projections will prove
to be materially inaccurate.
These risks include, but are not limited to, the delay or
failure by Teck to obtain the required financing to complete the
arrangement, the failure by Teck to obtain sufficient proceeds from
the sale of its units of Fording to complete the arrangement, any
action being taken which results in a material and adverse change
in Teck or Fording including in the anticipated tax treatment of
the arrangement, an absence of liquidity for units prior to or
during the pre-closing period, the failure to satisfy the
conditions to consummate the arrangement, the approval of the
arrangement by the court, the occurrence of any event, change or
other circumstances that could give rise to the termination of the
arrangement agreement, the delay of consummation of the arrangement
or failure to complete the arrangement for any other reason and the
costs, fees, expenses and charges related to the arrangement
exceeding certain thresholds in certain circumstances. Fording
cautions that the list of risks and assumptions set forth or
referred to above is not exhaustive. Some of the risks,
uncertainties and other factors which may negatively affect the
reliability of forward-looking information are discussed in
Fording' management information circular dated September 6, 2008,
as well as in Fording's public filings with the Canadian and United
States securities regulatory authorities, including its most recent
annual information form, annual report, management's discussion and
analysis, quarterly reports, material change reports and new
releases. Fording's public filings are available through Fording's
website at www.fording.ca. Copies of Fording's Canadian public
filings are available on SEDAR at www.sedar.com. Fording's public
filings in the United States, including Fording's most recent
annual report on Form 40-F and its filings on Form 6-K, are
available at www.sec.gov. Fording further cautions that information
contained on, or accessible through, these websites is current only
as of the date of such information and may be superseded by
subsequent events, public statements or filings. Fording undertakes
no obligation to update publicly or otherwise revise any
information, including any forward-looking information, whether as
a result of new information, future events or other such factors
that affect this information, except as required by law.
Contacts: Fording Canadian Coal Trust Colin Petryk Director,
Investor Relations (403) 260-9823 Fording Canadian Coal Trust Najda
Dupanovic Coordinator, Investor Relations (403) 260-9892 Email:
investors@fording.ca Website: www.fording.ca Lute & Company
John Lute (416) 929-5883 x222 Email: jlute@luteco.com
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