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Press release from CNW Group

WesternOne Equity Income Fund Announces Approval of Conversion to a Corporation by Unitholders and Adoption of Unitholder Rights Plan

Wednesday, September 05, 2012

WesternOne Equity Income Fund Announces Approval of Conversion to a Corporation by Unitholders and Adoption of Unitholder Rights Plan19:34 EDT Wednesday, September 05, 2012/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./VANCOUVER, Sept. 5, 2012 /CNW/ - WesternOne Equity Income Fund ("WesternOne") (TSX: WEQ.UN, WEQ.DB.B and WEQ.DB.C) announced that at its special meeting (the "Meeting") held today in Vancouver, BC, its unitholders adopted the special resolution approving the previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act to convert WesternOne's income trust structure to a publicly traded corporation named WesternOne Inc. (the "Conversion"). WesternOne will make application to the Supreme Court of British Columbia on September 6, 2012 to obtain a final order approving the Conversion. The Conversion is expected to become effective on December 31, 2012.Two other resolutions presented at the Meeting, respecting the WesternOne employee purchase plan and the WesternOne unitholder rights plan, were also passed by the requisite majority of the unitholders. For more information, readers can view the report of voting results of the Meeting filed under WesternOne's profile on SEDAR ( to any final regulatory approval, WesternOne's board of trustees has adopted a final form of unitholder rights plan agreement with Computershare Investor Services Inc. ("Computershare"), effective September 5, 2012, in which Computershare will act as the rights agent.Forward-looking Information Certain statements in this press release may constitute "forward-looking" information that involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such information includes, without limitation, statements with respect to: a final order to be obtained from the Supreme Court of British Columbia for the approval of the Conversion, the expected effective date of the Conversion and final approval of the unitholder rights plan. Actual events or results may differ materially.Forward-looking information contained in this press release is based on certain key expectations and assumptions made by WesternOne, including, without limitation, expectations and assumptions respecting: WesternOne's ability to obtain requisite consents or approvals in relation to the Conversion and unitholder rights plan and the ability to complete the Conversion by the expected effective date. Although the forward-looking information contained in this press release is based upon what the WesternOne's management believes to be reasonable assumptions, WesternOne cannot assure investors that actual results will be consistent with such information. Forward-looking information reflects current expectations of management regarding future events and operating performance as of the date of this press release. Such information involves significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, and a description of these factors can be found under "Risk Factors" in WesternOne's Annual Information Form dated March 29, 2012 and Management's Discussion and Analysis dated August 9, 2012, which are available on SEDAR ( forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to WesternOne. The forward-looking information is made as of the date of this press release and WesternOne assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.About WesternOne WesternOne seeks to acquire and grow businesses in the construction and infrastructure services sectors in order to generate stable and growing distributions to its unitholders as well as to achieve overall capital appreciation.Additional InformationAdditional information relating to WesternOne, including WesternOne's Annual Information Form and other public filings, is available on SEDAR at or on WesternOne's website at SymbolsToronto Stock Exchange: WEQ.UN, WEQ.DB.B and WEQ.DB.CTHE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.SOURCE: WesternOne Equity Income FundFor further information: For more information about this press release, please contact: Andrew Greig, Manager of Investor Relations WesternOne Equity Income Fund Suite 910, 925 West Georgia Street Vancouver, BC  V6C 3L2 Phone:  (604) 678-4042 E-mail: