CALGARY, June 15 /CNW/ - CCS Income Trust ("CCS") confirms the cash
distribution to be paid on July 16, 2007, in respect of the period June 1,
2007 to June 30, 2007, for unitholders of record on June 29, 2007, will be
$0.175 per trust unit.
The Series A Exchangeable Shares ("Exchangeable Shares") issued by CCS
Inc. were initially exchangeable for CCS trust units on a one to one basis
("Exchange Ratio"). The Exchange Ratio is cumulatively adjusted upward on each
Distribution Payment Date.
The updated Exchange Ratio as calculated on the Distribution Payment Date
of June 15, 2007, is 2.75134. The new Exchange Ratio is based on the following
- The previous Exchange Ratio as calculated on May 15, 2007, of
- Weighted average trading price for the period of June 12, 13 & 14th
2007, of $37.34927 and
- The June 15, 2007 distribution of $0.175 per trust unit.
As a result, the holder of an Exchangeable Share of CCS Inc. may choose
to convert each Exchangeable Share into 2.75134 CCS trust units.
CCS Income Trust (TSX: CCR.UN) is a recognized industry leader providing
integrated and environmentally responsible solutions along with other
complementary energy services. Headquartered in Calgary, Alberta, CCS provides
a diverse number of services across four divisions. CCS Energy Services
provides oilfield waste treatment, recovery and disposal. The second division,
HAZCO Environmental Services, provides integrated remediation, waste
management and decommissioning solutions. The third division, Concord Well
Servicing, manages well completions, workovers and abandonments utilizing a
fleet of 140 service rigs. The CCS Energy Marketing division provides crude
oil and condensate marketing services to CCS Energy Services and third
This press release contains certain statements that are not historical in
nature and are forward-looking statements. These forward-looking statements
include statements relating to the Trust's plans, strategies, objectives,
expectations, intentions and resources which are not guarantees as to the
Trust's future results since there are inherent difficulties in predicting
future results. When used throughout this press release, the words
"anticipate," "expect," "project," "believe," "estimate," "forecast,"
"intends," and similar expressions identify forward-looking statements, which
include statements relating to pending and proposed projects and business
activities. Such statements are subject to certain risks, uncertainties and
assumptions pertaining to operating performance, regulatory parameters,
weather and economic conditions and, in the case of pending and proposed
projects, risks relating to design and construction, regulatory processes,
obtaining financing and performance of other parties, including partners,
contractors and suppliers. Accordingly, actual results could differ materially
from those expressed or implied in forward-looking statements.
For further information:
For further information: David P. Werklund, Chairman of the Board,
President, and Chief Executive Officer, Phone: (403) 233-7565, Fax: (403)
261-5612, E-mail: email@example.com; Marshall L. McRae, Chief
Financial Officer, Phone: (403) 231-1103, Fax: (403) 261-5612, E-mail:
firstname.lastname@example.org; Shauna Lowry, Corporate Communications Manager,
Phone: (403) 231-1127, Fax: (403) 261-5612, E-mail: email@example.com