Conconi Holdings Ltd.

December 13, 2007 12:04 ET

Conconi Holdings Ltd.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - Conconi Holdings Ltd. ("Conconi Holdings") announced today that through a series of purchases on the Toronto Stock Exchange from November 23, 2007 to November 29, 2007, Mr. Robert Conconi acquired 125,000 trust units (the "Additional Trust Units") of Resolve Business Outsourcing Income Fund (the "Fund"). Conconi Holdings owns 5,007,160 partnership units of Resolve Outsourcing Limited Partnership ("Class B Units") and 5,007,160 special voting units of the Fund (representing 55% of the 9,079,841 special voting units of the Fund). Conconi Holdings acquired the Class B Units and special voting units in connection with the initial public offering of the Fund in March, 2006. Conconi Holdings may exchange the Class B Units for units of the Fund ("Trust Units") on the basis of one Class B Unit for each Trust Unit. Assuming the exchange by Conconi Holdings of all of its Class B Units, Conconi Holdings and Mr. Conconi would own, in aggregate, 5,132,160 Trust Units, representing approximately 17.9% of the Trust Units that would be outstanding after such exchange.

The Additional Trust Units, which represent less than 1/2 of 1% of the outstanding Trust Units on a non-diluted basis, were acquired for investment purposes. Conconi Holdings or its joint actors (including Mr. Conconi) may acquire additional Trust Units or may sell all or part of their existing Trust Units, or Trust Units acquired on conversion of the Class B Units held by Conconi Holdings.

Contact Information

  • Conconi Holdings Ltd.
    Robert Conconi
    (604) 6694523