Fording approved to proceed with reorganization
Fording Canadian Coal Trust has received a favorable tax ruling from the Canada Revenue agency, allowing Fording to proceed with their reorganization plan approved by unitholders in May 2005. Fording will apply to the Court of Queens Bench of Alberta for the final order required to complete the reorganization. As part of the reorganization, the Trust will proceed with the three-for-one split of its units. If the court issues the final order, the closing of the reorganization is expected to occur August 24. Fording Canadian Coal Trust is a mutual fund trust which, through investments in metallurgical coal and industrial minerals mining and processing operations, makes quarterly cash distributions to unitholders.