P.M. Bull Holdings Ltd.

May 16, 2008 19:10 ET

P.M. Bull Holdings Ltd.: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2008) - P.M. Bull Holdings Ltd. ("Holdings"), acquired control over 104,000 Class A voting trust units in the capital of Hardwoods Distribution Income Fund (the "Class A Units"), representing approximately 0.7% of the issued and outstanding Class A Units on October 24, 2007. As a result of the acquisition of the Class A Units, the offeror owned 1,452,500 Class A Units, representing 10.01% of the issued and outstanding Class A Units after giving effect to the transaction. The Class A Units were acquired through the Toronto Stock Exchange at a price of $5.7987 per Class A Unit.

Holdings acquired control over 75,000 Class A Units, representing approximately 0.5% of the issued and outstanding Class A Units on April 25, 2008. As a result of the acquisition of the Class A Units, the offeror owned 1,779,300 Class A Units, representing 12.35% of the issued and outstanding Class A Units after giving effect to the transaction. The Class A Units were acquired through the Toronto Stock Exchange at a price of $5.55 per Class A Unit. The offeror acquired the Class A Units for investment purposes only and it may increase or decrease its ownership position in the future.

Contact Information

  • P.M. Bull Holdings Ltd.
    Information Inquiries
    (604) 682-2911
    (604) 682-2729 (FAX)