True Energy Trust Confirms March Distribution
True Energy Trust confirms that the cash distribution for the month of February will be $0.04 per unit, to be paid on March 17, 2008 to all unitholders of record as at February 29, 2008. The ex-distribution date for this payment is February 27, 2008. This distribution announcement is consistent with the guidance provided in the news release dated December 18, 2007.
True also announces an increase in the ratio for exchanging Exchangeable Shares of True Energy Inc. into trust units of the Trust (the "Exchange Ratio") from 0.88085 to 0.89142. This increase was effective on February 15, 2008.
The increase in the exchange ratio is calculated by multiplying the True Energy Trust distribution per trust unit by the previous month's exchange ratio and dividing by the Current Market Price of TUI.UN. A holder of True Energy Inc.
- True Energy Trust Converted into Growth Oriented E&P Company (Nov 02)
- True Energy Trust Replaces Credit Facility (Apr 24)
- True Energy Trust Tightens Expenses, Trims Staff and Costs by 1/3 (Jan 20)