Sustainable Production Energy Trust

Sustainable Production Energy Trust

January 17, 2007 15:40 ET

Sustainable Production Energy Trust Announces Redemption Amount

CALGARY, ALBERTA--(CCNMatthews - Jan. 17, 2007) - Sustainable Production Energy Trust (TSX:SPU.UN) announces the redemption price of $5.94 per trust unit in respect of the most recent redemption date of January 2, 2007. This amount will be paid to redeeming unitholders on January 22, 2007.

Trust units of Sustainable Production may be surrendered for redemption in December of any year, but must be surrendered at least 15 business days prior to the redemption date. Trust units surrendered for redemption are redeemed on the redemption valuation dates at a redemption price per unit equal to the net asset value on the redemption date less the costs of, and associated with, selling a corresponding amount of the portfolio, including commissions and resulting tax liabilities. For the purposes of calculating this net asset value, the value of the portfolio securities comprising the portfolio is equal to the weighted average trading price of such securities over the three business days immediately preceding the redemption date.

For the most recent redemption date of January 2, 2007, approximately 9% of the Trust was tendered for redemption. As a result the Trust's Investment Manager executed a basket trade to sell an undivided 9% of the Trust's portfolio. The combined costs of, and associated with, selling that portion of the portfolio were $0.52 per trust unit.

Contact Information

  • Sustainable Production Energy Trust
    Joe MacDonald
    Executive Vice President, Sales and Marketing