Sask Pool

[dnach]

Sorry to say but good by Pool, maybe most of these terminals could be better off as producer owend terminals, ie: North West Terminal.
Producer run terminals run far more effiecient than the Sask pool could ever dream, plus grain producers have more of a direct say in grain handing and more unrestricted acsess to value added - dockage, screenings, palleting.

[wedino]

Postphoned til Monday feb 3. I don't understand why they delay this thing, outcome will be the same Monday.



Press Release Source: Saskatchewan Wheat Pool


Saskatchewan Wheat Pool: Pool Defers Meeting
Friday January 31, 2:19 pm ET


REGINA, SASKATCHEWAN--Saskatchewan Wheat Pool has made the decision to defer today's meeting of its Medium Term Note holders. The meeting is tentatively rescheduled for Monday morning at 9:00 a.m. in the Wascana Ballroom at the Regina Inn.
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The company was in possession of proxy votes in advance of the meeting indicating that its capital restructuring proposal would not be approved. As a result, the Board of Directors and management determined that the best course of action in the circumstances was to defer the meeting. The company is engaged in discussions with an ad hoc committee of bondholders today.

The company intends to continue to explore whether a consensual capital restructuring can be achieved that would allow the company to execute its long-term business plan. While it is uncertain how events will unfold, the Pool will review all alternate restructuring options over the coming days.

Saskatchewan Wheat Pool is a publicly traded agribusiness headquartered in Regina, Saskatchewan. Anchored by a prairie-wide grain handling and agri-products marketing network, the Pool channels prairie production to end-use markets in North America and around the world. These operations are complemented by value-added businesses and strategic alliances, which allow the Pool to leverage its pivotal position between prairie farmers and destination customers. The Pool's Class B shares are listed on the Toronto Stock Exchange under the symbol SWP.B.

This release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such statements. Important factors that could affect these statements include, without limitation, the company's success in restructuring its senior secured debt with its bankers and medium term Noteholders, producer's decisions regarding total planted acreage, crop selection, and utilization levels of farm inputs such as fertilizers and pesticides; weather conditions; Canadian grain export levels; changes in government policy and transportation deregulation; world agricultural commodity prices and markets; changes in competitive forces including pricing pressures; and global political and economic conditions, including grain subsidy actions of the United States and European Union.


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Contact:

Saskatchewan Wheat Pool
Investor Relations and Communications
Phone: (306) 569-4525
Fax: (306) 569-4400
Website: www.swp.com



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Source: Saskatchewan Wheat Pool

[melvill]

A good, short summary of the deal is at http://www.cbc.ca/stories/2003/02/03/saskwheatpool_030203 .

More details at http://www.swp.com/inv_files/nrFeb3_03.pdf

[TOM4CWB]

Lee,

Looks like people should be being paid for their grain today...

Big stress for many... I am sure!

Hope everything works as planned...