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TORONTO, Aug. 4 /CNW/ - SCITI ROCS Limited, in its capacity as trustee (the "Trustee") for SCITI ROCS Trust (the "Trust" or "SCITI ROCS"), is pleased to announce that the Trust has issued one warrant for each unit held by unitholders of the Trust of record as at the close of business on August 3, 2010.
Each warrant will entitle the holder to purchase one unit upon payment of a subscription price of $6.87. Commencing August 4, 2010, warrants may be exercised at any time on or before 5:00 p.m. (Toronto time) on August 4, 2011. The warrants will be listed on the Toronto Stock Exchange under the ticker symbol SCI.WT.
The Trust is an investment trust whose investment portfolio consists of income funds, corporations and other entities that reflect the makeup of the 50 highest yielding members of the Scotia High Yielding Index on an approximately equal weight basis subject to a maximum weighting in any one sector of 25% in order to provide unitholders with a diversified and high yielding portfolio.
Unitholders are entitled to receive monthly distributions as declared by the Trustee of the Trust. The Trustee generally intends to declare and pay monthly distributions to the extent of forecasted distributions to be received for a calendar quarter from the underlying portfolio, less the estimated operating expenses for the period.
The units of the Trust are listed for trading on The Toronto Stock Exchange under the symbol SCI.UN.
Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and anticipated results. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," and similar expressions. These forward-looking statements are based on current expectations and assumptions which are believed to be reasonable as at the date of this statement and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. The issuer assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason, other than as required by applicable securities laws. In the event the issuer does update any forward-looking statement, no inference should be made that the issuer will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
SOURCE SCITI ROCS Trust
For further information: For further information: Investor Relations, SCITI ROCS Limited, Trustee of SCITI ROCS, (416) 863-7251, E-mail: email@example.com, Web site: www.scotiamanagedcompanies.com