Santa Fe Energy Trust Announces Anticipated Trust Liquidation and Delisting
07 Février 2008 - 8:26PM
Business Wire
The Bank of New York Trust Company, N.A. (the "Trustee") of Santa
Fe Energy Trust (NYSE:SFF) announced today that it has officially
notified the New York Stock Exchange that it is requesting the
delisting of the Trust on February 15, 2008. The Trustee expects
that transfer of the Trust's units will be halted at the close of
business on February 14, 2008. As previously disclosed, the Trustee
intends to distribute the net proceeds of the sale of the Trust's
assets (after deducting amounts necessary to pay all fees,
expenses, liabilities and other obligations of the Trust, and after
setting aside any amounts the Trustee determines to hold in
reserve, and subject to any post-closing adjustments under the
purchase agreement) on February 29, 2008 to unitholders of record
at the close of business on February 14, 2008. This distribution
will be made concurrently with the Trust's distribution for the
quarter ending December 31, 2007. The United States Treasury
book-entry securities representing stripped-interest coupons held
by The Bank of New York Trust Company, N.A. as Custodian mature on
February 15, 2008. The cash proceeds from the matured Treasury
Obligations on deposit with the Custodian will be distributed as
promptly as practicable. Unitholders of record will be required to
deliver their Secure Principal Energy Receipts ("SPER
Certificates") in exchange for such payment. The Trustee will mail
each unitholder of record instructions for submitting SPER
Certificates to Bondholder Communications (the �Processing Agent�).
These instructions will include a letter of transmittal for
submitting a unitholder�s SPER Certificates to the Processing Agent
in exchange for cash proceeds from the matured Treasury
Obligations. Unitholders should NOT destroy any SPER Certificates
and should NOT submit any SPER Certificates to the Trustee or the
Processing Agent until they receive instructions and the letter of
transmittal. Surrender of a unitholder's SPER Certificates along
with the letter of transmittal will be required unless the
unitholder's SPER Certificates have been lost, stolen, misplaced or
mutilated. Unitholders whose SPER Certificates have been lost,
stolen, misplaced or mutilated should follow the instructions from
the Trustee or contact the Processing Agent at 1-800-275-2048. If a
unitholder's Trust units are held in a brokerage account, the
unitholder will not receive a letter of transmittal, but should
contact the broker for instructions. After the liquidation of the
Trust, the Trustee will continue to act as trustee of the trust
estate until the trust estate has been finally distributed and the
affairs of the Trust have been wound up.
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