TSX Symbol: CNV.UN
TORONTO, Oct. 24, 2013 /CNW/ - Convertible & Yield Advantage Trust (the "Trust") announced today that the Trust will redeem all of
its outstanding redeemable, transferable units (the "Units") on October
31, 2013 (the "Redemption Date") as contemplated by the constating
documents of the Trust. The Trust will request that the Units be
delisted from the Toronto Stock Exchange after the close of trading on
October 28, 2013. Thereafter, the Trust may pay a special distribution
to all Unitholders of record on October 31, 2013 prior to redeeming the
Units. Such distribution will reduce the redemption price per Unit by
an equivalent amount. The distribution, if any, together with the
redemption proceeds for the Units, will be paid by the Trust on or
about November 5, 2013 through CDS Clearing and Depository Services
Inc. It is anticipated that the Units will be redeemed at their net
asset value per unit on the Redemption Date.
As the Trust is terminating, it will not pay its regular monthly
distribution of $0.1458 per Unit to unitholders of record on October
The Units are currently listed on the Toronto Stock Exchange under the
SOURCE: CI Financial Corp.
For further information:
CI Investments Inc.