CALGARY, March 30 /CNW/ - True Energy Trust ("True" or the "Trust"),
announced today that at a Special and Annual Meeting (the "Meeting") of True
securityholders the special resolution related to the conversion of True to a
corporation was not approved by the required two thirds of securityholders
that voted on the resolution. As a result, the plan of arrangement was not
approved. The ordinary resolutions to approve an option plan and restricted
option plan for True Energy Inc. were contingent on the arrangement being
approved and therefore were not considered at the meeting.
All other resolutions presented were approved by the unitholders
including the re-election of the incumbent directors to the Board of True,
being: W. C. (Mickey) Dunn (Chairman), Paul R. Baay, Murray L. Cobbe, John H.
Cuthbertson, Norman W. Holton, James M. Saunders, Raymond G. Smith, Murray B.
Todd and Garth Wiggins.
On or before April 18, 2007, the Board plans to announce the distribution
payable for the month of April to be paid on May 15, 2007 to all unitholders
of record as at April 30, 2007.
For further information:
For further information: Paul Baay, President and CEO, (403) 750-1272;
Edward Brown, Vice President, Finance and CFO, (403) 750-2655; Scott Koyich,
Investor Relations, (403) 750-2428; Troy Winsor, Investor Relations, (800)