Toronto/Calgary:&Nbsp;Strategic Energy Fund (the “Fund”) announces that the Board of Directors of Strategic Energy Management Corp. (the “Manager”), the manager of the Fund, has established a special committee of independent directors (the “Special Committee”) to consider strategic alternatives that may be available to the Fund with the objective of seeking to maximize unitholder value. The Special Committee intends to explore a range of strategic alternatives, including:
No decision has yet been made on any particular alternative and there can be no assurance that the strategic review process will lead to any action. Further information will be provided if the Fund intends to propose or pursue a strategic alternative.
The Special Committee is comprised of John Brussa, Jeff Errico and Richard Zarzeczny, who are members of the Board of Directors of the Manager and are independent of the management of the Manager and the Fund’s investment advisor.
The Special Committee may retain, at the expense of the Fund, independent advisors to assist it in its review and evaluation of alternatives and to otherwise assist the Special Committee in the discharge of its mandate.
Strategic Energy Fund: Strategic Energy Fund is an investment trust that seeks to provide unitholders with superior rates of return through a diversification strategy focused on investment opportunities within the Canadian energy sector. The Fund invests in established companies, early-stage energy companies and, to a lesser extent, special energy issuers, each with prospects for high growth in the near to medium term and the potential for long-term capital appreciation.
The Fund’s investments in established companies, including energy royalty and income trusts, are made with a view to generating sufficient income to permit the Fund to make monthly cash distributions to unitholders. Investments in early-stage energy companies are focused on both private and public issuers with strong, experienced management teams that have proven track records of enhancing shareholder value and successfully executing exit strategies.
Trading information: The Fund’s units trade on the Toronto Stock Exchange under the symbol SEF.UN.
More information: Brian McOstrich, Vice-President, Investor RelationsTel: 1-888-246-6656 Fax: 416 364-1197 firstname.lastname@example.org
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Manager. The forward-looking statements are not historical facts but reflect the Manager’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the possibility that the Special Committee will determine that no action by the Manager or the Fund will be undertaken. Although the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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