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Peyto Energy Trust announces approval of amended distribution reinvestment and optional trust unit purchase plan
Peyto Energy Trust announces approval of amended distribution reinvestment and optional trust unit purchase plan.
About this update from Peyto Exploration & Development Corp.
[{"type":"text","content":"\n\n\n\n\nTSX SYMBOL: PEY.UN\n\nCALGARY, Jan. 17 /CNW/ - Peyto Energy Trust (\"Peyto\") announces that it\nhas received all necessary approvals in respect of its amended distribution\nreinvestment and optional trust unit purchase plan (the \"Amended DRIP Plan\").\nThe Amended DRIP Plan is identical in all respects to the former\ndistribution reinvestment and optional trust unit purchase plan, except that\nthe trading period used to calculate the price at which trust units are\npurchased now commences the first trading day of a particular month and ends\nat the close of trading on the third last trading day of such month. This\nchange will allow unitholders to know the price at which trust units may be\npurchased, prior to making their decision to participate in the Amended DRIP\nPlan. The changes to the Amended DRIP Plan are highlighted in the description\nbelow.\nThe Amended DRIP Plan is available for the January, 2006 distribution to\nbe paid on February 15, 2006 to Peyto unitholders of record on January 30,\n2006. Unitholders who wish to participate in the Amended DRIP Plan must send a\nproperly completed enrolment form to Valiant Trust Company no later than 3:00\np.m. (Calgary time) on the business day prior to a distribution record date\n(January 30, 2006 for the January, 2006 distribution).\nThe Amended DRIP Plan provides eligible holders of trust units of Peyto\nthe advantage of accumulating additional trust units by reinvesting their cash\ndistributions paid by Peyto. The cash distributions will be reinvested at the\ndiscretion of Peyto, either by acquiring trust units issued from treasury at\n95% of the average market price (calculated by the arithmetic average of the\ndaily volume weighted average trading prices of the trust units on the Toronto\nStock Exchange for the period (the \"Trading Period\") commencing at the start\nof trading on the first trading day subsequent to the last distribution record\ndate (i.e. the first trading day of a calendar month) and ending at the close\nof trading on the third last trading day of such month (emphasis added) or by\nacquiring trust units at prevailing market rates. It is the current intention\nof Peyto to issue trust units from treasury to satisfy its obligation under\nthe Amended DRIP Plan and Peyto will inform participants if this changes.\nNeither Peyto nor the administrato...