Inter Pipeline Announces Completion of Corporate Conversion
CALGARY, ALBERTA -- (Marketwired) -- 09/03/13 -- Inter Pipeline Fund
(TSX:IPL.UN) announced today that it has successfully converted to a
dividend paying corporation, Inter Pipeline Ltd. ("Inter Pipeline").
The conversion occurred pursuant to an arrangement under the Business
Corporations Act (Alberta) (the "Arrangement") that was voted upon by
unitholders at a special meeting held on August 22, 2013.
It is anticipated that Inter Pipeline's common shares will commence
trading on the Toronto Stock Exchange within three to four business
days under the symbol "IPL". Inter Pipeline Fund's Class A limited
partnership units will be delisted concurrent with the commencement
of trading of the common shares.
Pursuant to the Arrangement, among other things, unitholders received
one common share of Inter Pipeline in exchange for each Class A unit
held. Former unitholders may elect to exchange Class A units for
common shares, from a Canadian federal income tax perspective, on a
tax-deferred rollover basis. A tax election form must be properly
completed and submitted to Inter Pipeline on or before December 1,
2013 in order to realize the tax-deferred rollover.
Additional information regarding the tax election form and other
potential tax consequences of the exchange is available on our
website at www.interpipeline.com by selecting "Investor Relations -
Corporate Conversion Information". Shareholders are advised to
consult with their own tax advisors as to their own particular income
Inter Pipeline Ltd.
Inter Pipeline is a major petroleum transportation, natural gas
liquids extraction, and bulk liquid storage business based in
Calgary, Alberta, Canada. Inter Pipeline owns and operates energy
infrastructure assets in western Canada, the United Kingdom, Denmark,
Germany and Ireland. Additional information about Inter Pipeline can
be found at www.interpipeline.com.
Certain information contained herein may constitute forward-looking
statements that involve risks and uncertainties. Readers are
cautioned not to place undue reliance on forward-looking statements.
Such information, although considered reasonable by Inter Pipeline at
the time of preparation, may later prove
to be incorrect and actual
results may differ materially from those anticipated in the
statements made. For this purpose, any statements that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements often contain terms such as
"may", "will", "should", "anticipate", "expects" and similar
expressions. Such risks and uncertainties include, but are not
limited to, risks associated with operations, such as loss of
markets, regulatory matters, environmental risks, industry
competition, potential delays and cost overruns of construction
projects, and the ability to access sufficient capital from internal
and external sources. You can find a discussion of those risks and
uncertainties in Inter Pipeline's securities filings at
www.sedar.com. The forward-looking statements contained in this news
release are made as of the date of this document, and, except to the
extent required by applicable securities laws and regulations, Inter
Pipeline assumes no obligation to update or revise forward-looking
statements made herein or otherwise, whether as a result of new
information, future events, or otherwise. The forward-looking
statements contained in this document are expressly qualified by this
Inter Pipeline Fund
Vice President, Capital Markets
403-290-6015 or 1-866-716-7473
Inter Pipeline Fund
Director, Corporate and Investor Communications
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