CALGARY, Jan. 15 /CNW/ - True Energy Trust ("True" or the "Trust")
announces an increase in the ratio for exchanging Exchangeable Shares of True
Energy Inc. into trust units of the Trust (the "Exchange Ratio") from 1.02179
to 1.03759. This increase is effective on January 15, 2009.
The following are the details used in the calculation of the Exchange
Record Date of Distribution December 31, 2008
Opening Exchange Ratio 1.02179
True Energy Trust distribution per unit paid
January 15, 2009 $0.02
5-day weighted average trading price
(the "Current Market Price") $1.29379
(including the last business day prior to
distribution payment date)
Increase in Exchange Ratio 0.01580
Effective Date of increase in Exchange Ratio January 15, 2009
Exchange Ratio as of the Effective Date 1.03759
The increase in the exchange ratio is calculated by multiplying the True
Energy Trust distribution per trust unit by the previous month's exchange
ratio and dividing by the Current Market Price of TUI.UN. A holder of True
Energy Inc. Exchangeable Shares can exchange all or a portion of their
holdings at any time for the True Energy Trust Units by completing the
Retraction Request Form located on the back of the exchangeable certificate.
Questions regarding Exchangeable Shares should be directed to Computershare
Trust Company of Canada at 1-800-564-6253.
True also announces that the employment of Mr. Ian Ross as Vice
President, Land ended effective January 12, 2009.
True Energy Trust is an exploration and production oil and gas trust
based in Calgary, Alberta, Canada.
For further information:
For further information: Wayne M. Chorney, President, CEO & COO, (403)
750-2420; Edward Brown, Vice President, Finance & CFO, (403) 750-2655; Sacha
Ravelli, Manager, Investor Relations, (403) 750-7085