VOXCOM Income Fund

VOXCOM Income Fund

June 08, 2007 18:55 ET

93.7% VOXCOM Income Fund Units Accept UE Waterheater Income Fund Offer

TORONTO, ONTARIO--(Marketwire - June 8, 2007) -


UE Waterheater Income Fund ("UE Waterheater" or the "Fund") (TSX:UWH.UN) and VOXCOM Income Fund ("VOXCOM") (TSX:VOX.UN) have jointly announced that 6764495 Canada Inc. (the "Offeror"), a wholly-owned indirect subsidiary of the Fund, has on June 8, 2007, taken-up and accepted for payment, 7,682,206 trust units ( "Units") in the capital of VOXCOM pursuant to its offer for all of the outstanding Units of VOXCOM dated May 4, 2007 (the "Offer"). The Offeror will pay for all the taken up Units on the basis of $13.25 in cash per Unit by June 13, 2007. Following payment for all the taken up Units, the Offeror will own 7,682,206 Units which represent approximately 93.7% of the outstanding Units of VOXCOM.

The Offeror has also extended the acceptance period for the Offer by amending the expiry time of the Offer to 5:00 p.m. (Toronto time) on Wednesday June 20, 2007. The Offeror expects to mail a formal notice of extension to VOXCOM unitholders shortly.

About UE Waterheater Income Fund

UE Waterheater Income Fund is an unincorporated, open-ended, limited purpose trust established under the laws of Ontario that indirectly holds, through UE Waterheater Operating Trust, the water heater rental business of Union Energy Limited Partnership (Union Energy LP) and its related commercial activities as well as the security monitoring business of Protectron Limited Partnership (Protectron LP). Each Unit of the Fund represents an indirect ownership interest in Union Energy LP and Protectron LP, which own and operate the businesses.

Union Energy LP's main business is the rental and service of a portfolio of more than one million residential water heaters in Ontario which is Canada's second largest portfolio of rental water heaters in a program that was initiated in the 1960s. In addition, Union Energy LP has related commercial activities that complement the water heater rental business, being the retail sale, rental, service and maintenance, and financing of heating, ventilation and air conditioning equipment as well as electronic security system sales, installation, rental, service, monitoring, and related commercial activities. The businesses operate under the Reliance Home Comfort, Reliance Protectron Security Services, UEI Financial and Reliance Commercial Solutions brand names.

For more information on the UE Waterheater Income Fund, visit the web site at www.ueincomefund.com.

About VOXCOM Income Fund

VOXCOM Income Fund holds all the issued and outstanding common shares of VOXCOM Incorporated ("VOXCOM Inc."). VOXCOM Inc. is a national leader of security alarm installation and monitoring services in Canada, serving more than 122,000 residential and commercial customers. VOXCOM Inc. provides monitoring services for security alarm systems and LifeCall emergency response systems to all provinces from its head office and call centre in Edmonton, and has branch offices in major centres across the country. VOXCOM Inc. also maintains extensive marketing partnerships and a network of Authorized Dealers throughout Canada. Information about VOXCOM Income Fund can be found at www.voxcomincomefund.com and about VOXCOM Incorporated can be found at www.voxcom.com.

Contact Information

  • UE Waterheater Income Fund
    Jennifer Garland
    (416) 490-4968
    Investment Community
    Catherine David Nolan
    Chief Financial Officer
    (416) 499-7098
    Website: www.ueincomefund.com
    VOXCOM Income Fund
    Douglas O. Goss, Q.C.
    (780) 420-4713
    Website: www.voxcomincomefund.com