Brompton Group Limited

March 07, 2008 12:58 ET

Brompton Group Limited Signs Acquisition Agreement to Sell Limited Partnership Interest to Duntroon Energy Ltd.

TORONTO, ONTARIO--(Marketwire - March 7, 2008) - Effective February 26, 2008, BGL and Brompton Holdings Limited entered into an Acquisition Agreement with Duntroon Energy Ltd. ("Duntroon") pursuant to which BGL will sell 5,500 Class A limited partnership units of Brompton Funds LP (the "LP") to Duntroon. Concurrent with the acquisition from the LP, Duntroon entered into an acquisition agreement with Newport Partners Holdings LP for purchase of the balance of the issued units of the LP and its shares in BFGP Limited. Completion of the purchase from BGL is subject to approval by the shareholders of Duntroon and to various other conditions. Duntroon has called a meeting of its shareholders for March 31, 2008 to approve the acquisitions as well as to create as an additional class of shares of Duntroon an unlimited number of Class A common shares. As consideration, BGL will receive a promissory note in an amount equal to the advances it receives from the LP from January 1, 2008 to the date of closing and 788,333 Class A common shares which will represent 52% of the Class A common shares outstanding on closing of the acquisitions. BGL's obligation to complete the sale is conditional upon, among other things, the shareholders of Duntroon approving the acquisition and related matters, the concurrent closing of the Newport acquisition by Duntroon, the receipt of regulatory approvals and additional conditions typical for a transaction of this nature. The Acquisition Agreement has been filed on SEDAR. Details of the transaction are described in Duntroon's Information Circular and Proxy Statement dated February 26, 2008.

These shares have been acquired for investment purposes. BGL does not intend to acquire additional Class A common shares at this time.

The issuance of the news release is not an admission that an entity named in the news release is a joint actor with another named entity.

For further information or to obtain a copy of the report filed pursuant to the requirements of National Instrument 62-103 of the Ontario Securities Act and similar legislation of other provinces, please contact:



Moyra E. MacKay
Corporate Secretary
Brompton Group Limited
Suite 2930, Box 793
181 Bay Street
Toronto, ON M5J 2T3
(416) 642-6007

Contact Information

  • Brompton Group Limited
    Moyra E. MacKay
    Corporate Secretary
    (416) 642-6007