Canadian Helicopters Income Fund (TSX: CHL.UN) (the “Fund”) is pleased to announce that at the special meeting (“Meeting”) of the holders (“Fund Unitholders”) of trust units and special voting units of the Fund held today, the Fund Unitholders approved the previously announced plan of arrangement (the “Arrangement”) under section 192 of the Canada Business Corporations Act (the “CBCA”) pursuant to which the Fund will convert into a corporation to be named Canadian Helicopters Group Inc.
Subject to approval of the Arrangement by the Superior Court pursuant to the provisions of the CBCA and the satisfaction of certain other closing conditions, it is expected that the Arrangement will be completed on or about January 1, 2011.
ABOUT CANADIAN HELICOPTERS INCOME FUND
Through Canadian Helicopters Limited, Canadian Helicopters Income Fund is the largest helicopter transportation services company operating in Canada and one of the largest in the world based on the size of its fleet. With over 35 base locations across Canada, Canadian Helicopters provides helicopter services to a broad range of sectors, including emergency medical services, infrastructure maintenance, utilities, oil and gas, mining, forestry and construction. In addition to helicopter transportation services, Canadian Helicopters operates three flight schools, provides third party repair and maintenance services in Canada and provides military support in Afghanistan. With over 60 years of experience, Canadian Helicopters is an industry leader in establishing safety standards and operating procedures.
This press release contains forward-looking statements relating to completion of the Arrangement by the Fund. Forward-looking statements are subject to certain risks and uncertainties, and actual results may differ materially. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they were made. The Fund disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise unless being required by applicable laws.
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