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Inter Pipeline Finalizes Corporate Conversion; Changes Name
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Inter Pipeline Fund has successfully converted to a dividend paying corporation, Inter Pipeline Ltd.
The conversion occurred pursuant to an arrangement under the Business Corporations Act (Alberta) 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.
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