Canadian Helicopters Income Fund (CHL.UN) (the “Fund”) announced today the closing of the conversion of the Fund from an income trust to a dividend paying corporation by way of plan of arrangement (the “Arrangement”) as further described in the Fund’s management information circular dated May 13, 2010. The completion of the Arrangement resulted in the reorganization of the Fund’s income trust structure into a new public corporation named Canadian Helicopters Group Inc. (“New CH”).
As a result, each Fund unitholder will be entitled to receive from the Fund an amount equal to $0.091875 for each Fund unit in payment of the last monthly distribution and, from New CH, one New CH common share (“CHL.A”) in exchange for each Fund unit. New CH common shares received by non-residents were subsequently exchanged for variable voting shares (“CHL.B”) in connection with the Arrangement.Â It is expected that unitholders will receive the New CH shares and the December distribution on or about January 4, 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 two 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.
- Helity appointed AW139 Maintenance Centre by Leonardo
- Bell Appoints China State Grid GA as a Bell429 Authorized Maintenance Center
- Arrius engines mark 10 million flight hours
- Celebrating 40 Years of Bell Operating in China
- Safran and AECC introduce the WZ16
- LZControl supercharges its system with new upgrades
- Euramec signs non-exclusive distribution agreement with GeoSim Technologies
- Russia’s state Medevac programme on life-support
- Eemshaven Heliport receives first flight
- MINT Turbines Names New General Manager
- Norwegian Government commits to rescue helicopter base at Tromso by 2022
- CIA Museum adds Mil MI-17 helicopter
- New hangar for Tuscaloosa Police
- REACH 6 celebrates 15 years of service
- UK to advise Kazakhstan on aviation regulation
- SEI Industries is a Finalist for the 2019 BC Export Awards
- UAVOS Unmanned Helicopter Robinson for Precision Farming
- CHI St. Joseph Health and PHI upgrade aircraft
- Tender issued for German wind farm rescue helicopter
- Queenstown helicopter company liquidated