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Abstract
(Marketwire - Jan. 4, 2011) - Zargon Oil & Gas Ltd. ("New Zargon" or "Zargon") (TSX:ZAR.UN) (TSX:ZOG.B) is pleased to announce that it has completed the plan of arrangement ("Arrangement") pursuant to which Zargon Energy Trust (the "Trust") has converted from an income trust into a dividend-paying corporation.
New Zargon common shares are expected to commence trading on the Toronto Stock Exchange ("TSX") later this week under the trading symbol "ZAR", subject to the acceptance of New Zargon's filings with the TSX. The trust units ("ZAR.UN") and exchangeable shares ("ZOG.B") will be de-listed by the TSX that same day.
On April 9, 2010, Zargon announced the adoption of a Distribution Reinvestment Plan (the "DRIP"). Under the Arrangement, the DRIP has been amended and restated as a Dividend Reinvestment Plan (the "Amended DRIP") and all existing participants in the DRIP are deemed to be participants in the Amended DRIP. The Amended DRIP allows eligible shareholders of New Zargon to direct their cash dividends be reinvested in additional common shares which, when issued from treasury, will be issued at 95 percent of the Average Market Price (as defined in the Amended DRIP) on the applicable dividend payment date. A complete copy of the Amended DRIP is available on Zargon's website or by calling the Account Manager, for Zargon at Valiant Trust Company at (403) 233-2801 or (866) 313-1872.