TORONTO, Jan. 12, 2017 /CNW/ - Trez Capital Senior Mortgage Investment Corporation (TSX:TZS) (the "Company") announced today that its board of directors has declared a special distribution of $1.33 per Class A share of the Company. The special distribution, which constitutes a return of capital pursuant to the winding-up of the Company's business as approved by Shareholders on June 16, 2016, will be paid on February 21, 2017 to holders of Class A shares of record on February 6, 2017. The Special Distribution is in addition to the Company's monthly distributions (also constituted as returns of capital), which the Company intends to continue until further notice. As of January 11, 2017, there were 7,491,236 Class A shares outstanding.
About the Company
The Company holds a diversified portfolio of mortgages in Canada. Trez Capital Fund Management Limited Partnership is the manager of and portfolio advisor to the Company. On June 16, 2016 the Shareholders of the Company approved the orderly wind-up of the Company. Under the orderly wind-up plan the Company will distribute the net proceeds through special distributions, the repurchase of shares pursuant to the normal course issuer bid, or otherwise. To date, 90,518 of Class A Shares have been purchased for cancellation under the normal course issuer bid.
SOURCE Trez Capital Senior Mortgage Investment Corporation
For further information: please contact: Karyn Phuong, Vice President, Investor Relations, Trez Capital, Tel: 647-788-1788, Email: KarynP@trezcapital.com