Tree Island Wire Income Fund

Tree Island Wire Income Fund

December 03, 2007 08:00 ET

Tree Island Announces Receipt of Meeting Request

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - Tree Island Wire Income Fund (the "Fund") (TSX:TIL.UN) today announced that it has received a requisition from The Futura Corporation ("Futura"), a significant holder of Fund Units, to call a special meeting of Unitholders at which Futura proposes to replace certain trustees of the Fund with Futura's nominees. The Fund's Board of Trustees will consider this requisition at its regularly scheduled meeting on December 14, 2007. A further announcement with additional details will be provided thereafter.

Fund Profile

The Fund was launched on November 12, 2002, with the completion of an Initial Public Offering. There are 21,918,400 units of the Fund outstanding, representing a 100% ownership interest in Tree Island Industries (Tree Island). The Fund's performance depends entirely on the performance of Tree Island.

Tree Island Profile

Headquartered in Richmond, British Columbia, Tree Island Industries produces wire products for a diverse range of construction, agricultural, manufacturing and industrial applications. Its products include bright wire, stainless steel wire and galvanized wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products, engineered structural mesh, fencing and other fabricated wire products. The company markets these products under the Tree Island, K-Lath, Halsteel, Tree Island Wire, Industrial Alloys and USA-Wire brand names. Tree Island also owns and operates a Hong Kong-based trading company that provides internationally sourced products to Tree Island and its customers worldwide.

Contact Information