Canadian Equipment Rental Fund Limited Partnership closes corporate conversion to become CERF Incorporated
TSX Venture Symbol: CFL (formerly CLF. UN)
CALGARY, Oct. 3, 2011 /PRNewswire/ – Further to its press release of August 30,
2011, Canadian Equipment Rental Fund Limited Partnership (“CERF LP“) and CERF Incorporated (“CERF Inc.”) announce the results of the special meeting of the holders (“Unitholders“) of limited partnership units (“Units“) of CERF LP to approve the plan of arrangement under Section 193 of
the Business Corporations Act (Alberta) (the “Arrangement“) with CERF GP Corp. (the “General Partner“), the general partner of CERF LP, CERF Inc., a wholly owned subsidiary
of CERF LP, and the Unitholders, relating to the Arrangement. The
Arrangement resulted in the conversion of CERF LP from a limited
partnership to a taxable Canadian corporation, namely, CERF Inc.
effective October 1, 2011.
The Arrangement was approved at the special meeting of Unitholders on
September 29, 201 by 99.14% of the votes cast by the Unitholders. The
Arrangement was also approved by the Court of Queen’s Bench of Alberta
on September 30, 2011.
Pursuant to the Arrangement, Unitholders received one common share of
CERF Inc. (each, a “Common Share“) in exchange for each Unit held as of October 1, 2011. Upon completion
of the Arrangement, Unitholders own all of the issued and outstanding
Common Shares and CERF Inc. owns all of the issued and outstanding
Units and carries on the businesses presently carried on by CERF LP.
The board of directors of CERF Inc. is comprised of the previous
members of the board of directors of the General Partner and the
management of CERF Inc. is comprised of the previous management of the
General Partner, CERF LP and its subsidiaries. The Arrangement did not
result in any benefits for, or change of control, termination or other
payments being made to, any officers, directors or employees of CERF LP
or any of its subsidiaries or of the General Partner.
CERF Inc. is an Alberta corporation engaged in the rental, sale and
service of industrial and construction equipment and in waste
management services. CERF Inc. trades on the TSX Venture Exchange
under the symbol “CFL” (formerly CFL.UN) and currently has 9,530,906
Common Shares issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canadian Equipment Rental Fund Limited Partnership