TORONTO, ONTARIO -- (Marketwire) -- 08/13/12 -- Canadian Income Management Inc. (the "Corporation")(TSX: CAI.DB) wishes to remind investors ("Debentureholders") that the Corporation's issued and outstanding 7% unsecured, subordinated debentures (the "Debentures") are scheduled to mature on August 31, 2012. The Debentures will be halted at the beginning of trading but will remain listed on the Toronto Stock Exchange (the "TSX") until the end of business on Friday, August 31, 2012. Upon maturity, Computershare Trust Company Canada (the "Debenture Trustee") on behalf of the Corporation, will pay to each Debentureholder entitled to receive payment, the principal amount ($100 per Debenture) plus all accrued and unpaid interest (currently calculated as $1.19 per Debenture) on each Debenture surrendered to the Debenture Trustee. Debentureholders will be considered to have disposed of the Debentures for proceeds of disposition equal to $100 per Debenture. For tax purposes, Debentureholders will realize a capital gain (or capital loss) equal to the amount by which the proceeds of disposition are greater (or less) than the aggregate of the Debentureholder's adjusted cost base thereof and any reasonable costs of disposition. For further details, please consult the Corporation's Debenture Indenture dated February 21, 2006 available on SEDAR at www.sedar.com.
Further, the unitholders of Canadian Income Management Trust (the "Trust") (TSX: CNM.UN) are advised that the Trust's units will also be halted at the beginning of trading and delisted from the TSX at the end of business on Friday, August 31, 2012 in advance of the Trust's slated termination scheduled to occur on or about September 7, 2012 in accordance with its Trust Indenture dated February 21, 2006, as amended from time to time. Unitholders can expect to receive their pro rata share of the proceeds from the sale of the Trust's assets (together with any cash on hand) following the payment, retirement or discharge of all known liabilities and obligations of the Trust and the provision of indemnity against any other outstanding liabilities and obligations. For tax purposes, the distribution will be treated as a disposition of such Trust units for proceeds of disposition equal to the cash received. Unitholders will consequently realize a capital gain (or capital loss), depending upon whether the proceeds of disposition received exceed (or are less than) the adjusted cost base of the Trust units so redeemed and any reasonable costs of disposition. It is expected that such distribution will occur on or about September 7, 2012.
As of August 10, 2012, the net asset value of the Trust was $1.74 per unit.
Sentry Investments ("Sentry") is a Canadian asset management company with over $7 billion in assets under management on behalf of Canadian investors. Sentry offers a diverse range of investment products including mutual funds and flow-through limited partnerships. Sentry was recognized as Canada's Best Equity Funds Group at the 2011 and 2012 Lipper Fund Awards, and was one of only seven companies in 2012 to receive the Brendan Wood International TopGun Asset Management Team Award, having also received the honour in 2010 and 2011.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "intend," "will" and similar expressions to the extent they relate to Sentry. The forward-looking statements are not historical facts but reflect Sentry's current expectations regarding future results or events including, but not limited to, the Debenture repayments or the distribution of proceeds from the sale of the Trust's assets. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record of the Corporation or the Trust, please visit their profiles at www.sedar.com.
Sentry Investments Inc. Commerce Court West 199 Bay Street, Suite 4100 P.O. Box 108 Toronto, ON, M5L 1E2 Tel: 416-364-9297 Fax: 416-364-1197
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