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Abstract
The Subscription Receipts traded on the Toronto Stock Exchange (TSX) under the symbol "PVE.R." With the closing of the acquisition, trading in the Subscription Receipts will be halted today and will remain halted until the close of business and then be delisted. Holders of Subscription Receipts will receive one trust unit of Provident for each Subscription Receipt held. Also, holders of the subscription receipts at the time of delisting will receive C$0.12 per Subscription Receipt, the equivalent of Provident's November distribution payable in December. This payment is to be treated as a reduction to the purchase price of the units acquired through the Subscription Receipts. Holders of Subscription Receipts are not required to take any action in order to receive the trust units and cash to which they are entitled. The register for the Subscription Receipts will close at 3:00 p.m. MT on December 16, 2005, after which the C$0.12 per unit for each subscription receipt will be paid.
Murray N. Buchanan, former president and CEO of Kinetic Resources (LPG) has been appointed Co-President, Provident Midstream. Murray will co-lead the new Midstream business unit with Andrew Gruszecki, Co-President Provident Midstream. Murray will be an officer of Provident and will report to Provident Executive Vice President and Chief Operating Officer, Daniel O'Byrne.