NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
CALGARY, Sept. 25, 2012 /CNW/ - Argent Energy Trust ("Argent" or the
"Trust") is pleased to announce that it has adopted a Distribution
Reinvestment Plan (the "Plan"). The Plan provides eligible unitholders
with the opportunity to reinvest their cash distributions, on each
distribution payment date, in additional trust units of Argent (the
"Plan Units"), which may be issued from treasury of Argent, purchased
on the open market through the Toronto Stock Exchange, or a combination
thereof. Eligible unitholders may elect to participate in the Plan
commencing with the monthly cash distribution payable on November 23,
2012 (the "November 2012 Distribution").
As permitted by the Plan, for the purposes of the November 2012
Distribution and thereafter until further notice otherwise is provided
by Argent in accordance with the Plan, Plan Units issued from treasury
will be issued on the applicable distribution payment date to eligible
unitholders participating in the Plan at a 3% discount to the average
market price of the trust units of Argent (the "Units"). Average market
price is defined in the Plan to be the volume weighted average price of
the Units on the Toronto Stock Exchange for the five trading days
preceding the distribution payment date.
To participate in the Plan, registered unitholders may enroll online
through Computershare Trust Company of Canada's Investor Centre web
portal at www.computershare.com/investorcentrecanada or by delivering a properly completed enrollment form to Computershare
Trust Company of Canada (in its capacity as plan agent under the Plan),
as directed under the Plan, not later than 4:00 p.m. (Toronto time) on
the fifth (5th) business day immediately preceding a distribution record date in order
for the cash distribution to which such record date relates to be
reinvested under the Plan. Registered unitholders who wish to enroll
in the Plan for the November 2012 Distribution, which is payable to
unitholders of record on October 31, 2012, must deliver a completed and signed enrollment form not later
than 4:00 p.m. (Toronto time) on October 24, 2012.
Beneficial unitholders (i.e. owners of Units that are held through a
nominee) who wish to participate in the Plan should contact the broker,
investment dealer, financial institution or other nominee who holds
their Units to enquire about the applicable enrollment deadline and to
request enrollment in the Plan.
No commissions, service charges or brokerage fees will be payable by
Plan participants in connection with their purchase of Plan Units;
however, beneficial unitholders who wish to participate in the Plan
through the broker, investment dealer, financial institution or other
nominee who holds their Units should consult that nominee to confirm
what fees, if any, the nominee may charge to enroll in the Plan on
their behalf or whether the nominee's policies might result in any
costs otherwise becoming payable by the beneficial unitholder.
Participation in the Plan will not relieve unitholders of any liability
for taxes that may be payable on distributions. Unitholders should
consult their own tax advisors concerning the tax implications of their
participation in the Plan having regard to their own particular
Copies of the Plan, a series of Questions and Answers, and the
enrollment form will be available on the Argent website at www.argentenergytrust.com, directly from Argent by calling (403) 770-4803, or online though
Computershare Trust Company of Canada's Investor Centre at www.computershare.com/investorcentrecanada. Questions may also be directed at Computershare Trust Company of
Canada by calling 1-800-564-6253.
Eligible unitholders are encouraged to read the full Plan to understand
participation rules and other terms and conditions to the plan,
including, but not limited to, eligibility restrictions that only allow
participation by Canadian residents.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, in any
province or territory of Canada or in any other jurisdiction. The
securities to be offered have not been, and will not be, registered
under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any U.S. state securities laws and may not be
offered or sold in the United States absent registration or absent an
applicable exemption from the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws.
ABOUT ARGENT ENERGY TRUST
Argent's objective is to create stable, consistent returns for investors
through the acquisition and development of oil and natural gas reserves
and production with low risk exploration potential, located primarily
in the United States and to pay out a portion of available cash to
holders of trust units on a monthly basis.
Argent is a "mutual fund trust" under the Income Tax Act (Canada) (the
"Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax
Act), provided that the Trust complies at all times with its investment
restrictions which preclude the Trust from holding any "non-portfolio
property" (as defined in the Tax Act).
Certain statements made herein contain forward-looking information,
including statements regarding the Plan, the discount, if any, at which
Plan Units will be issued from treasury under the Plan and the timing
of distributions payable by Argent on its Units. Although Argent
believes these statements to be reasonable, the assumptions upon which
they are based may prove to be incorrect. Furthermore, the
forward-looking statements contained in this press release are made as
at the date of this press release and Argent does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
SOURCE: Argent Energy Trust
For further information:
Chief Executive Officer
Chief Financial Officer