Harvest's Securityholders Approve Acquisition by KNOC
Harvest Energy Trust has announced the results of its special meeting of securityholders held today regarding the October 21, 2009 announced plan of arrangement involving the Trust and Korea National Oil Corporation ("KNOC").
Voting securityholders were 90.5% in favor of the Arrangement, which provides for the acquisition of all the issued and outstanding trust units by KNOC's Canadian subsidiary, KNOC Canada Ltd., for C$10.00 per unit. An application will be made to the Court of Queen's Bench of Alberta on December 16, 2009 for a final order approving the arrangement.
The Trust also announced that it has received, from the Competition Bureau of Canada, an Advance Ruling Certificate in respect of the acquisition of the securities of the Trust by KNOC Canada Ltd.
Closing of the Arrangement remains subject to satisfaction of outstanding conditions, including approval under the Investment Canada Act.
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Company: Harvest Energy Trust more info
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