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Progress Energy Trust Increases Exchangeable Share Ratio Effective April 16, 2007
Progress Energy Trust Increases Exchangeable Share Ratio Effective April 16, 2007.
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":"\n\n\n\nCALGARY, April 2 /CNW/ - (TSX - PGX.UN) Progress Energy Trust ("Progress"\nor the "Trust") today announced the increase to the Exchange Ratio of the\nExchangeable Shares of Progress Energy Ltd. from 1.34944 to 1.35993. This\nincrease will be effective on April 16, 2007.\n\n\nThe following are the details of the calculation of the Exchange Ratio:\n\n\n-------------------------------------------------------------------------\nRecord date of Progress Energy Trust distribution March 31, 2007\n-------------------------------------------------------------------------\nOpening Exchange Ratio 1.34944\n-------------------------------------------------------------------------\nProgress Energy Trust distribution per unit $0.10\n-------------------------------------------------------------------------\nFive day weighted average trading price of PGX.UN\n(prior to the end of the month) $12.86\n-------------------------------------------------------------------------\nIncrease in Exchange Ratio(x) 0.01049\n-------------------------------------------------------------------------\nEffective Date of the increase in the Exchange Ratio April 16, 2007\n-------------------------------------------------------------------------\nExchange Ratio as of Effective Date 1.35993\n-------------------------------------------------------------------------\n\n(x) The increase in the Exchange Ratio is calculated by multiplying the\n Progress Energy Trust distribution per unit by the Exchange Ratio\n immediately prior to the Record Date and dividing by the five day\n weighted average trading price of Progress Energy Trust units.\n\n\nExchangeable Shares of Progress Energy Ltd. trade on the Toronto Stock\nExchange under the symbol PGE. A holder of Progress Energy Ltd. Exchangeable\nShares can exchange all or a portion of their holdings into Progress Energy\nTrust Units at any time, by giving notice to their investment advisor or\nComputershare Trust Company of Canada at its principal transfer office in\nSuite 710, 530-8th Avenue S.W., Calgary, Alberta, T2P 3S8.\n\n\nForward-Looking Statements - Certain information regarding Progress set\nforth in this document, including management's assessment of Progress' future\nplans and operations, contains forward-looking statements that involve\nsubstantial known and unknown risks and uncertaintie...