Coast Wholesale Appliances Income Fund declares June cash distribution - Twenty-fourth since Fund's inception



    TRADING SYMBOL: Toronto Stock Exchange - CWA.UN

    VANCOUVER, June 20 /CNW/ - Coast Wholesale Appliances Income Fund (the
"Fund") today announced a cash distribution of $0.10 per unit for the period
from June 1, 2007 to June 30, 2007, to be paid July 16, 2007 to unitholders of
record on June 29, 2007. This distribution is consistent with the amount of
distributions contemplated by the Fund in its initial public offering
prospectus of June 15, 2005. The Fund's policy is for unitholders of record on
the last business day of each month to receive distributions on or about the
15th day of the following month. This is the Fund's twenty-fourth consecutive
cash distribution.
    A cash distribution to the 35% retained interest in Coast Wholesale
Appliances LP (Coast) held by the previous owners of the Coast business will
also be paid by Coast on July 16, 2007. This cash distribution is equivalent
to the distributions to public unitholders for the period from April 1, 2007
to June 30, 2007. Distributions to the retained interest are currently
subordinated to those of public unitholders. The terms of the subordination
provide for quarterly payments to the retained interest only to the extent
that sufficient distributable cash is available after public unitholders have
received $0.10 per unit for each month in the respective quarter. This is the
eighth consecutive quarterly cash distribution to the retained interest since
the Fund's inception. In keeping with the provisions described in the Fund's
IPO prospectus, the subordination is expected to be removed following the
completion of the Fund's next full financial audit, anticipated to be
conducted subsequent to its 2007 year-end.

    Coast Wholesale Appliances Income Fund is an unincorporated, open-ended
limited purpose trust launched on June 23, 2005 with the completion of an
initial public offering of 6,525,000 trust units. The Fund was created to
acquire and hold a 65% indirect interest in Coast Wholesale Appliances LP
(Coast), a leading independent supplier of major household appliances to
developers and builders of multi-family and single-family housing, and to
retail customers in Western Canada. Founded in 1978, Coast operates 15 branch
locations and four warehouse distribution centres across the four western
provinces.





For further information:

For further information: Jack Peck, Chief Financial Officer, Telephone:
(604) 301-3400 or invest@coastappliances.com, Website:
www.coastincomefund.com

Organization Profile

COAST WHOLESALE APPLIANCES INCOME FUND

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890