TORONTO, Sept. 11, 2015 /CNW/ - Marret Asset Management Inc. announced today that Marret Multi-Strategy Income Fund (TSX: MMF.UN), will pay a distribution of $0.4071 per unit to Class A unitholders of record on September 22, 2015 ("Distribution Record Date") with a payment date on September 25, 2015 (the "Payment Date"). Pursuant to the sale of Mobilicity to Rogers Communications, the fund received cash payment for certain bonds issued by Data & Audio-Visual Enterprises Wireless Inc., operating as Mobilicity. The distribution represents the net proceeds received by the fund and is being made in accordance with the ongoing termination of the fund.
In accordance with the applicable rules of the Toronto Stock Exchange ("TSX") the "due bill" trading procedures of the TSX will apply to the distribution. The units of the fund will trade on a "due bill" basis from two trading days prior to the Distribution Record Date (i.e., September 18, 2015) to the Payment Date, inclusively (the "due bill period"). Any trades that are executed on the TSX during the due bill period will be identified to ensure purchasers of the fund's units receive the entitlement to the distribution.
The units will commence trading on an ex-dividend basis on September 28, 2015, as of which date purchases of units will no longer have an attaching entitlement to the distribution. The due bill redemption date will be September 30, 2015.
Marret expects to receive additional proceeds for certain other Mobilicity bonds held by the fund; however, the final determination on payment has not yet been made.
There is no guarantee the Toronto Stock Exchange will permit the fund to maintain its listing. Please consult with your tax advisor on the possible consequences if the fund is delisted.
About Marret Asset Management Inc.
Marret Asset Management Inc. specializes in fixed income and particularly in high-yield debt strategies. The experienced team of investment professionals is led by Barry Allan, President and Chief Investment Officer. He founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank, and has over 30 years of experience in credit and fixed-income markets.
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of Marret and the managers of the underlying portfolios regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Marret believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Marret can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors" in the prospectus. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Marret undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.
SOURCE Marret Asset Management Inc.
For further information: Marret Investor Services, 416-214-5800 or firstname.lastname@example.org