TSX: SPF.UN
CALGARY, July 4 /CNW/ - Superior Plus Income Fund (the "Fund") today announced the appointment of Kay Best to the board of directors of Superior Plus Administration Inc., the administrator of the Fund, and Superior Plus Inc., general partner of Superior Plus LP., effective July 1, 2007. Ms. Best will be the ninth independent director of the ten member boards and will serve on the audit committee.
"We are very pleased to have Ms. Best join our boards," said Grant Billing, Chairman and Chief Executive Officer of Superior Plus. "Her appointment to the boards will be a valued addition in ensuring the alignment and support of Superior Plus' value-based growth strategy. The skills and extensive experience of Ms. Best in risk management, finance and strategic business development are complementary to those of the current members of the Board and will be of great value as we continue to focus on stability of distributions and long-term growth."
Ms. Best currently serves as Executive Vice-President, Risk Management and Chief Financial Officer of the Calgary Health Region. Prior thereto, Ms. Best was employed as a Partner with Ernst & Young LLP. Ms. Best is currently a director of Canadian Natural Resources Limited and Enbridge Income Fund.
About Superior Plus and the Fund
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Superior Plus Income Fund is a diversified business trust. The Fund holds 100% of Superior Plus LP, a limited partnership formed between Superior Plus Inc., as general partner and the Fund as limited partner. Superior Plus is focused on stability of distributions with value growth and has four Canadian based operating divisions: Superior Propane is Canada's largest distributor of propane, related products and services; ERCO Worldwide is a leading supplier of chemicals and technology to the pulp and paper industries and a regional Midwest supplier of chloralkali and potassium products; Winroc is the seventh largest distributor of walls and ceilings construction products in North America; and Superior Energy Management provides fixed price natural gas and electricity supply services in Ontario and natural gas supply in British Columbia and Quebec.
The Fund's trust units and convertible debentures trade on the Toronto Stock Exchange as follows
Trading Symbol Security Issued and Outstanding ------------------------------------------------------------------------- SPF.un Trust Units 86.3 million SPF.db 8% Debentures, Series 1 $8.1 million principal amount SPF.db.a 8% Debentures, Series 2 $59.0 million principal amount SPF.db.b 5.75% Debentures, Series 1 $174.9 million principal amount SPF.db.c 5.85% Debentures, Series 1 $ 75.0 million principal amount -------------------------------------------------------------------------