Business
Precision Drilling Corporation commences consideration of conversion to an Income Trust
Precision Drilling Corporation commences consideration of conversion to an Income Trust.
About this update from Precision Drilling Corporation
[{"type":"text","content":"\n\n\n\n\nCALGARY, June 15 /CNW/ - Precision Drilling Corporation (\"Precision\")\nannounces that it is undertaking an examination of the available strategic\nalternatives with respect to its Canadian contract drilling, service rig,\nsnubbing, rentals, and related services businesses, including determining the\nviability and method of conversion to an income trust. Although the Board of\nDirectors has not made any decision with respect to any specific course of\naction at this time, it has retained the appropriate accounting, financial,\nlegal and tax advisors to assist it in identifying and assessing issues\npertaining to a conversion to an income trust and to report back to the Board\nof Directors as soon as reasonably possible. Any conversion alternatives\navailable to Precision will be subject to review by, and approval of the Board\nof Directors and will also be subject to receipt of all required shareholder\nand regulatory approvals.\nIn addition, Precision is examining strategic alternatives with respect\nto its industrial and plant maintenance business.\n%SEDAR: 00002052E\n\n\n","length":1153,"tagName":"div"}]