UE Waterheater Income Fund Acquires VOXCOM Income Fund

Pursuant to a support agreement dated April 16, 2007, UE Waterheater agreed that it would acquire by way of a takeover bid, all of the issued and outstanding units of VOXCOM at a purchase price of $13.25 cash per VOXCOM unit. On June 8, 2007, UE Waterheater announced that holders of approximately 93.7 per cent of the VOXCOM units had accepted the UE Waterheater offer. UE Waterheater completed a compulsory acquisition of the remaining outstanding VOXCOM units on June 22, 2007. The total value of the transaction was $140 million.

Borden Ladner Gervais LLP represented UE Waterheater with a team including Frank Callaghan, Frank Allen, Paul Simon, Larissa Tkachenko, Adam Fanaki, Stephen Redican, Gus Karantzoulis.

Bryan & Company LLP were counsel to VOXCOM with a team including Douglas Goss, Q.C., Robert Bruggerman and Graeme Marr, Q.C. Bennett Jones LLP acted as counsel to the special committee of the board of trustees of VOXCOM with a team including Barry Reiter, Kathleen Keller-Hobson, Robert Fabes, Milos Barutciski and Adam Kalbfleisch.