HALIFAX, Nov. 16 /CNW/ - Bell Aliant Regional Communications Income Fund (Bell Aliant or the Fund) (TSX: BA.UN) today announced that it is reoffering a voluntary small unitholder selling program (the Program) for registered or beneficial holders of 99 or fewer units (the Units) of the Fund as of November 13, 2009. Holders of shares of predecessor companies of Bell Aliant who hold the equivalent of 99 or fewer Units are also eligible to participate in the Program (the Predecessor Company Shares). The Program will begin on November 23, 2009 and will expire at 4:30 p.m. (EST) on February 19, 2010, unless extended.
The Program will give Canadian registered and beneficial holders of 99 or fewer Units and/or Predecessor Company Shares (i.e., an odd-lot) 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 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 offered a similar program in late 2007 which reduced the number of small unitholder accounts and Bell Aliant's unitholder administration costs. As Bell Aliant expects to incur increased unitholder communication costs associated with the expected conversion to a corporation by 2011, the Fund has decided to reoffer the program to further reduce the number of small unitholder accounts and mitigate unitholder administration cost increases. The Program is entirely voluntary and unitholders are advised to contact their broker or other financial adviser as to the suitability of participating.
Information concerning this Program and participation documents will be forwarded to eligible unitholders. 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 email@example.com.
This news release contains forward-looking statements concerning anticipated future events and expectations, in particular regarding Bell Aliant's intention to initiate and complete a small unitholder selling program. Unless otherwise indicated, such forward-looking statements describe our expectations at November 16, 2009. 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 assumption that Bell Aliant will complete the small unitholder selling program as currently contemplated. 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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