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Aliant obtains Certificate of Arrangement in respect of the Plan of Arrangement
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Location: Blogs News |
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| Posted by: ITNovaScotia Admin |
Friday, July 07, 2006 |
Saint John, NB – July 6, 2006 - Aliant Inc. (TSX: AIT) announced today that it has filed articles of arrangement under the Canada Business Corporations Act and has received a certificate of arrangement with an effective date of July 5, 2006 in respect of the previously announced Plan of Arrangement for the creation of the new Bell Aliant Regional Communications Income Fund (Bell Aliant). The transaction is expected to be completed on July 7, 2006. The closing of the Plan of Arrangement is subject to the satisfaction or waiver of closing conditions.
The new income trust will combine Aliant's wireline operation in Atlantic Canada and Bell Canada's wireline operation in its regional territories in Ontario and Quebec as well as its indirect 63.4 per cent interest in Bell Nordiq. Bell Aliant will be one of North America's largest regional telecommunications service providers with over 3.4 million local access lines and over 400,000 high-speed Internet subscribers in six provinces.
Subject to the terms of the Plan of Arrangement, Aliant common shares held by the public are expected to be exchanged for units of Bell Aliant following the close of business on July 7, 2006. Consequently, these units are expected to begin trading on the Toronto Stock Exchange on July 10, 2006 with the trading symbol "BA.UN".
The certificate of arrangement has been filed on SEDAR and is available at www.sedar.com. Aliant will also file certain material agreements on SEDAR, including the Securityholders’ Agreement, pursuant to which, among other things, Bell Aliant may guarantee the obligations of certain of its subsidiary entities, and the Investor Liquidity and Exchange Agreement, pursuant to which, among other things, Bell Canada and BCE Inc. have been granted certain exchange rights in respect of securities which they are entitled to receive under the Plan of Arrangement.
About Aliant
Aliant serves customers across Atlantic Canada with innovative and traditional communications services, including local and long distance telephony, wireless, Internet, e-commerce, interactive multimedia, data and managed network services. In addition to serving residential, small-to-medium sized business and enterprise customers in its home market, Aliant also serves business customers located in other parts of North America. Aliant complements its industry-leading telecommunications business with strengths in information technology solutions and knowledge-services applications. Aliant's approximately 8,400 employees build on its 100-plus year history by collaborating to deliver the highest quality of customer service, choice and convenience. Aliant has a market capitalization of approximately $4.5 billion.
For more information contact:
Media Relations:
Kelly Gallant
902 487-4642
kelly.gallant@aliant.ca
Investor Relations:
Eleanor Marshall
506 694-2930
eleanor.marshall@aliant.ca |
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Comments (1)
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Re: Aliant obtains Certificate of Arrangement in respect of the Plan of Arrangement |
By Tom R. on
Friday, July 07, 2006 |
| So does this mean we should be wishing any aliant people happy birthday today? |
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