ARC Energy Trust and Startech Energy inc. approve plan of arrangement

The plan of arrangement was also approved by the court. The closing of the transaction is expected to occur on January 31, 2001 upon receipt of all necessary regulatory approvals. Of the votes cast at the meeting, 99.8 percent of Startech security holders voted in favour of the Plan of Arrangement under which each Startech security holder will receive at their election 0.96 of an ARC Energy Trust Unit or 0.96 of an ARC Resources Ltd. exchangeable share for each Startech share owned, or any combination thereof.

Jan. 25, 2001–President George W. Bush in his first week in Washington has warned of a “huge energy crisis,” threatened to explore the Arctic National Wildlife Refuge to drill for oil and gas, rejected calls to remove dams to save Pacific salmon, and told CNN, “If there’s any environmental regulations that’s preventing California from having a 100 percent max output at their plants, as I understand there may be, then we need to relax those regulations.”

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