Avenir Diversified Income Trust
TSX : AVF.UN

Avenir Diversified Income Trust

December 10, 2010 14:52 ET

Avenir Diversified Income Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - Dec. 10, 2010) - Avenir Diversified Income Trust (the "Trust" or "Avenir Trust") (TSX:AVF.UN) is pleased to announce the increase to the Exchange Ratio of the Exchangeable Shares of Avenir Exchange Corp., an indirect wholly-owned subsidiary of Avenir Trust, from 1.00000 to 1.00958. This increase will be effective on December 15, 2010. The following are the details of the calculation of the Exchange Ratio:

Record Date of Avenir Trust Distribution Opening Exchange Ratio Avenir Trust Distribution per Unit Market Price as at December 1, 2010 (1) Increase in Exchange Ratio (1) Effective Date of the Increase in Exchange Ratio Exchange Ratio as of Effective Date
             
November 30, 2010 1.00000 $0.06 $6.26 0.00958 December 15, 2010 1.00958

(1) The increase in the Exchange Ratio is calculated by multiplying the Avenir Diversified Income Trust monthly distribution per Unit by the Exchange Ratio immediately prior to the applicable record rate for the distribution and dividing by the current market price of Avenir Diversified Income Trust Units on December 1, 2010.

A holder of Exchangeable Shares can exchange all or a portion of their holdings into Avenir Trust Units, at any time, by giving notice to their investment advisor or Olympia Trust Company at its principal transfer office, Suite 2300, 125 – 9th Avenue S.E., Calgary, Alberta, T2G 0P6.

Pursuant to the Plan of Arrangement, on January 1, 2011, Trust Units and Exchangeable Shares will convert to shares in the New Avenir corporation.

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
    William Gallacher
    Chief Executive Officer
    (403) 237-9949
    (403) 237-0903 (FAX)
    or
    Avenir Diversified Income Trust
    Gary Dundas
    Chief Financial Officer
    (403) 237-9949
    (403) 237-0903 (FAX)
    or
    Avenir Diversified Income Trust
    Suite 300, 808 - 1st Street S.W.
    Calgary, Alberta
    T2P 1M9