Newport Completes Conversion From Income Trust to Corporation

On April 1, 2011, Newport Inc. announced completion of the conversion of Newport Partners Income Fund to a corporation pursuant to a Plan of Arrangement under the Business Corporations Act (Ontario).

The Plan of Arrangement was approved by unitholders of Newport Partners Income Fund at the special meeting of the Fund held in March 2011 and subsequently by the Ontario Superior Court.

Effective April 1, 2011, unitholders of Newport Partners Income Fund automatically received one common share of Newport Inc. in exchange for each unit of the Fund. Trading of Newport Inc.'s common shares commenced on April 5, 2011 on the Toronto Stock Exchange under the symbol NP.

Newport's business continues to be carried on by the same management team in place prior to completing the conversion.

Newport Partners Income Fund and Newport Inc. were represented in-house by Keith Halbert, Chief Financial Officer and Aleksandra Doerffer, Corporate Counsel, and by Ogilvy Renault LLP with a team that included Dawn Whittaker; Walied Soliman and Joseph Hillier (M&A/securities); Adrienne Oliver (tax) and Robert Blair and Nicholas Saint-Martin (litigation).


Joseph Hillier Adrienne F. Oliver Nicholas Saint-Martin Robert Blair Aleksandra W. Doerffer Dawn P. Whittaker Walied Soliman