Avenir Diversified Income Trust

Avenir Diversified Income Trust

May 25, 2006 21:14 ET

Avenir Diversified Income Trust Confirms Effective Date and Ex-Distribution Date of The Energy Services Division Spin Out

CALGARY, ALBERTA--(CCNMatthews - May 25, 2006) - Avenir Diversified Income Trust (the "Avenir Trust") (TSX:AVF.UN) confirms that the effective date of the Energy Services division spin out from Avenir Trust will be May 31, 2006. In accordance with the Toronto Stock Exchange bulletin of May 23, 2006, the cut-off for settling trades for Avenir Trust units will be prior to the open of market Wednesday, May 31, 2006. The units of Avenir Trust will be posted for trading on an ex-spin out distribution basis on May 26, 2006.

The Avenir Trust will issue to unitholders of record as at 12:01 a.m. (Calgary time) on Wednesday, May 31, 2006 one (1) trust unit of Essential Energy Services Trust ("Essential Trust") for every two (2) units of the Avenir Trust held as of the record date. Essential Trust is expected to commence trading on or about May 31, 2006 at the open of market. Certificates representing the appropriate number of Essential Trust units will be mailed to unitholders of the Avenir Trust on or about May 31, 2006.

For the regular Avenir Trust May 2006 cash distribution, the ex-distribution remains May 29, 2006.

Forward-Looking Statements: Certain information set forth in this press release, including a discussion of future plans and operations, contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ materially from those expressed in or implied by these forward-looking statements.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Avenir Diversified Income Trust
    Gary Dundas
    Vice President, Finance and Chief Financial Officer
    (403) 237-9949 ext. 259
    (403) 237-0903 (FAX)
    Suite 300, 808 - 1st Street S.W.
    Calgary, Alberta T2P 1M9