VANCOUVER, June 17, 2011 /CNW/ - WesternOne Equity Income Fund
("WesternOne Equity") (TSX: WEQ.UN, WEQ.DB, WEQ.DB.B and WEQ.DB.C)
announced today that pursuant to Article 6 of the debenture indenture
dated August 15, 2006 (the "Indenture") between WesternOne Equity Income Fund (the "Fund") and Computershare Trust Company of Canada ("Computershare"), as trustee, all of the 5 Year, 9% Senior Secured Convertible
Debentures — Series A due August 15, 2011 (the "Debentures") of the Fund outstanding on July 29, 2011 (the "Redemption Date") will be redeemed on the Redemption Date.
The redemption price will be paid in cash and is $100 per $100 principal
amount of Debentures outstanding plus accrued and unpaid interest of
$0.7151 per $100 principal amount of Debentures.
The unpaid interest amount is calculated for twenty nine (29) days for
the period from June 30, 2011 to, but excluding, the Redemption Date by
multiplying the coupon rate of 9% by the aggregate principal amount of
Debentures outstanding as at the Redemption Date and then multiplying
the product by a fraction, the numerator of which is twenty nine (29)
and the denominator of which is three hundred and sixty five (365).
Pursuant to Section 2.14(d) of the Indenture neither the Fund nor
Computershare shall be required to transfer, exchange or effect any
conversion of Debentures during a period of fifteen (15) business days
immediately preceding the Redemption Date. The last date that a holder
of Debentures may transfer, exchange or effect any conversion of
Debentures is July 7, 2011.
Payment will be made in lawful money of Canada to CDS Clearing and
Depositary Services Inc. in respect of the global debenture
representing the Debentures upon the surrender of the global debenture
for the Debentures registered in the name of CDS & Co., at the offices
of Computershare, Corporate Trust Department, 510 Burrard Street, 3rd
Floor, Vancouver, B.C., V6C 3B9, Attention: Manager Corporate Trust
Services. Interest on the principal amount of the Debentures will cease
to be payable from and after the Redemption Date.
About WesternOne Equity
WesternOne Equity seeks to acquire businesses in the sector of
construction and infrastructure services in order to generate stable
and growing distributions to its unitholders as well as to achieve
overall capital appreciation.
Additional information about WesternOne Equity is available at www.weq.ca or www.sedar.com
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
SOURCE WesternOne Equity Income Fund
For further information:
Andrew Greig, Manager of Investor Relations
WesternOne Equity Income Fund
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 678-4042