Esprit Energy Trust's says that its Unitholders have approved the merger of Esprit with Pengrowth Energy Trust with over 99 percent of Esprit units represented in person or by proxy at the special meeting voting in favor of the merger and certain related amendments to Esprit's trust indenture. The
merger is expected to close on or about October 2, 2006, after which Esprit
Unitholders will receive 0.53 of a Pengrowth trust unit in exchange for each
Esprit trust unit held. In addition, as previously announced, a one-time
special distribution of $0.30 per Esprit trust unit will be paid to Esprit
Unitholders of record on September 28, 2006.
Esprit is a Calgary-based natural gas weighted income trust. Esprit's operations are primarily concentrated in Alberta and are characterized by long life, gas focused assets. Esprit trust units and convertible debentures are traded on the Toronto Stock Exchange (TSX) under the symbols "EEE.UN" and "EEE.DB", respectively.