CALGARY, Jan. 20 /PRNewswire-FirstCall/ -- (CNE.UN and TOG - TSX) - Canetic Resources Trust ("Canetic") and TriStar Oil & Gas Ltd. ("TriStar") wish to provide the following information regarding the timing of the receipt of Canetic and TriStar securities by certain former unitholders of Acclaim Energy Trust ("Acclaim") and StarPoint Energy Trust ("StarPoint") in the United States.
In the United States, the Depository Trust Company ("DTC") is the registered holder of Acclaim and StarPoint units on behalf of most of Acclaim's and StarPoint's former U.S. beneficial unitholders. In order for those beneficial holders to receive the Canetic and TriStar securities to which they are entitled, DTC must first transmit the Acclaim and StarPoint units held by it to Computershare Investor Services Inc., Acclaim and StarPoint's depositary, at which time Computershare will issue to DTC the Canetic and TriStar securities to which former unitholders of Acclaim and StarPoint are entitled for subsequent distribution to its U.S. brokerage firm participants for the accounts of beneficial holders. We understand that DTC currently holds approximately 21 million units of Acclaim and 3.3 million units of StarPoint that are to be transmitted to Computershare.
We have worked diligently over the past several weeks with DTC to process these securities as quickly as possible. We understand that DTC will be giving the necessary instructions to Computershare shortly and expect that investor accounts will be credited early in the week of January 23. We sincerely apologize to our U.S. investors for this unanticipated delay.
ADVISORY: Certain information regarding the issuance of securities pursuant to the plan of arrangement, including the timing thereof, may constitute forward-looking statements under applicable securities law and necessarily involve risks, including, without limitation, the risk that DTC will not distribute the applicable securities on a timely basis or at all and the risk that an alternative solution will not be available on acceptable terms or at all. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and neither Canetic nor TriStar undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities law.
