HALIFAX, Feb. 10 /CNW/ - Bell Aliant Regional Communications Income Fund (Bell Aliant or the Fund) (TSX: BA.UN) today announced an extension to its voluntary small unitholder selling program (the Program) to 4:30 p.m. (EST) on March 19, 2010.
The Program, originally scheduled to expire on February 19, 2010, enables Canadian registered or beneficial holders of 99 or fewer units of the Fund (the Units) and Canadian registered or beneficial holders of shares of predecessor companies of Bell Aliant equivalent to 99 or fewer Units the opportunity to sell all, but not less than all, of their Units without incurring brokerage charges.
The Fund's transfer agent, CIBC Mellon Trust Company, will continue to facilitate the placement of sell orders with a broker (the Broker) and the execution of the Program. The price received by unitholders for their Units will be the average price received on all orders placed with the Broker for execution on a given day, regardless of when any individual orders are executed that day.
Bell Aliant expects that the extension of the Program will further help reduce the number of small unitholder accounts and mitigate unitholder administration cost increases associated with the expected conversion of the Fund to a corporate structure by 2011. The Program is entirely voluntary and unitholders are advised to contact their broker or other financial adviser as to the suitability of participating.
Further information can be obtained by contacting Bell Aliant at 1-877-248-3113, or the Fund's transfer agent, CIBC Mellon Trust Company, by telephone, toll-free at 1-866-271-6893, or through e-mail at firstname.lastname@example.org.
This news release contains forward-looking statements concerning anticipated future events and expectations, in particular regarding Bell Aliant's intention to continue and complete a small unitholder selling program, the Fund's conversion to a corporation and expected mitigation of unitholder administration costs. Unless otherwise indicated, such forward-looking statements describe our expectations at February 10, 2010. These statements are based on management's beliefs regarding future events, which by their nature are inherently uncertain and beyond management's control. These statements are not guarantees of future events and are subject to risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate, including the assumptions that Bell Aliant will complete the small unitholder selling program as currently contemplated and that additional small unitholders will participate in the Program during the extension period. Except as may be required by Canadian securities laws, we disclaim any intention and assume no obligation to update or revise any forward-looking statement even if new information becomes available, as a result of future events, or for any other reason. Readers should not place undue reliance on any forward-looking statements.
About Bell Aliant
Bell Aliant (TSX: BA.UN) is one of North America's largest regional communications providers and an Official Supporter of the Vancouver 2010 Olympic and Paralympic Winter Games. Through its operating entities it serves customers in six Canadian provinces with innovative information, communication and technology services including voice, data, Internet, video and value-added business solutions. Through its xwave offices, Bell Aliant also provides IT professional services and advanced technology solutions. Bell Aliant's employees are committed to deliver the highest quality of customer service, choice and convenience.
SOURCE Bell Aliant Inc.
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