TORONTO, July 11, 2018 (GLOBE NEWSWIRE) -- Faircourt Asset Management Inc., the Manager of Faircourt Split Trust (TSX:FCS.UN) (TSX:FCS.PR.C), announces today that $522,930.00 in aggregate principal amount of the Trust’s 6.00% outstanding Preferred Securities (the “Preferred Securities”) will be redeemed on July 31, 2018 (the “Redemption Payment Date”). The record date of the Preferred Securities partial redemption is July 27, 2018.
Proceeds from the Preferred Securities redemption will amount to $10.0500 for each $10.00 principal amount of Securities, being equal to the aggregate of (i) $10.00 (the “Redemption Price”), and (ii) all accrued and unpaid interest hereon to but excluding the Redemption Payment Date (collectively, the “Total Redemption Price”).
The interest upon the principal amount of Preferred Securities called for redemption shall cease to be payable from and after the Redemption Date, unless payment of the Total Redemption Price shall not be made on presentation for surrender of such Securities on or after the Redemption Date or prior to the setting aside of the Total Redemption Price pursuant to the Indenture.
Securities will be redeemed pro rata from each beneficial holder of Securities pursuant to the procedures of CDS Clearing and Depository Services Inc. Beneficial holders of Preferred Securities should contact their broker with any questions regarding the redemption.
This press release is not for distribution in the United States or over United States wire services.
For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or please contact (416) 364-8989 or 1-800-831-0304.
You will usually pay brokerage fees to your dealer if you purchase or sell Units of the Trust on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the Units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying Units of the Trust and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.