TKE Energy Trust

TKE Energy Trust

October 20, 2005 15:22 ET

TKE Announces November Distribution

CALGARY, ALBERTA--(CCNMatthews - Oct. 20, 2005) - TKE Energy Trust (TSX:TKE.UN) ("TKE" or "the Trust") confirms that the cash distribution for the month of October of $0.12 per unit will be paid on November 15, 2005 to all unitholders of record as of October 31, 2005. The ex-distribution date for this payment is October 27, 2005. This will be the eleventh monthly distribution of $0.12 per unit made by TKE since the formation of the Trust in November, 2004.

On August 23, 2005, True Energy Inc. ("True") and TKE announced that they had entered into an agreement to combine and reorganize under a Plan of Arrangement ("the Plan"). On November 1, 2005 the shareholders of True will vote on the Plan and the unitholders of TKE will vote on a consolidation of TKE units on a 1 new unit for 2 existing units basis and a change in the name of the Trust to True Energy Trust. In the event that these items are approved by the shareholders of True and the unitholders of TKE, the Plan is expected to close on November 2, 2005.

If the Plan is approved the distribution made will be $0.24 per unit of True Energy Trust (the equivalent of $0.12 per unit of TKE). Note that the November 15, 2005 distribution is only for holders of TKE units as of October 31st and will not apply to shareholders of True who receive units of True Energy Trust pursuant to the closing of the Plan on November 2.

TKE is a sustainable energy trust with approximately 19.8 million units and 0.9 million exchangeable shares issued and outstanding. If the Plan is approved their will be approximately 36.6 million units and 0.9 million exchangeable shares of True Energy Trust outstanding.

Contact Information

  • TKE Energy Trust
    Norman W. Holton
    Chairman & Chief Executive Officer
    (403) 264-8875
    TKE Energy Trust
    Gordon K. Case
    Vice President, Finance & Chief Financial Officer
    (403) 264-8875
    (403) 263-4247 (FAX)