Trimac unitholders approve corporate move
CALGARY — Trimac Income Fund unitholders overwhelmingly approved the conversion of the Fund to a corporation pursuant to an arrangement under Albert’a Business Corporations Act.
Shareholders voted 99.9 percent in favor of the conversion, which was announced in October.
The move is expected to officially close on January 1, 2011.
On closing, the trust units of the Fund will be exchanged for Class A Shares of Trimac Transportation Ltd. ("TTL") on a one for one basis and the exchangeable shares in Trimac Transportation Services Inc. will be exchanged into Class A Shares or Class B Shares.
The liquid bulk hauler was one of the last of the major income fund trucking companies to switch to a corporation.
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