Halt of Distributions and Interest Payments in Respect of Securities of First Leaside Properties Fund and FL Master Sherman, Ltd.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Nov. 29, 2011 /CNW/ - First Leaside Properties Fund (the "Fund") and FL Master Sherman, Ltd. ("Master Sherman"), both part of the First Leaside Group of Companies ("First Leaside"), wish to announce an update to the press release issued on November 11, 2011.

All of First Leaside's efforts are currently focussed on generating the plan to reconfigure its business so it can move forward on a basis acceptable to the Ontario Securities Commission and the Investment Industry Regulatory Organization of Canada (the "Regulators") and emerge from the voluntary cease trade. The Independent Committee of First Leaside is working very hard, along with its advisors and management, to prepare a reconfiguration plan. Management of the Fund and Master Sherman believe it is in the best interest of its partners and clients to continue to cooperate with the Regulators as First Leaside moves along this path.

The Boards of each of the Fund and Master Sherman have determined that it is prudent in these circumstances to stop all payments to investors. It is expected that the stoppage will continue until after the completion and implementation of the reconfiguration plan.

Accordingly, there will be no interest payments on debt securities and no distributions on limited partnership interests of Master Sherman or trust units of the Fund until further notice. The first payments affected by this stoppage are those due on November 30, 2011 and December 4, 2011, respectively.

SOURCE First Leaside Properties Fund

For further information:

First Leaside Management Inc.
David C. Phillips

President

p. 905-852-1430

Profil de l'entreprise

First Leaside Properties Fund

Renseignements sur cet organisme

FL Master Sherman, Ltd.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.