Trez Capital Senior Mortgage Investment Corporation Announces Details from the Final Annual Redemption Right
TORONTO, Dec. 13, 2013 /CNW/ - Trez Capital Senior Mortgage Investment Corporation (TSX:TZS) (the "Corporation") announced today that the time period for submitting requests to redeem Class A shares has closed. As of the specified deadline, the Corporation had received requests from shareholders to redeem, in aggregate, 3,825,215 Class A shares representing 42.9% of the total number of Class A shares currently outstanding. As the maximum percentage of shares which can be redeemed under the Corporation's articles is limited to 15%, a proportionate amount of each shareholder's redemption request will be processed at the net asset value per share on December 31, 2013 and paid out on or about January 15, 2014. The redemption price will be published by the Corporation when it is determined and the redemption will be paid out of funds previously allocated for this purpose.
About the Company
The Company's objective is to acquire and maintain a diversified portfolio of first mortgages in Canada that preserves capital and generates attractive returns in order to pay monthly distributions to its shareholders. The Company pursues its investment objectives through prudent investments in first mortgages to qualified real estate investors and developers, focusing primarily on short-term bridge financing needs not currently serviced by traditional real estate lenders. Trez Capital Fund Management Limited Partnership is the manager of and portfolio advisor to the Company.
SOURCE Trez Capital Senior Mortgage Investment CorporationFor further information:
Michael J.R. Nisker
President & Chief Executive Officer
Trez Capital Senior Mortgage Investment Corporation
Tel: (416) 350-1299
Vice President, Investor Relations
Tel: (647) 788-1788