TORONTO
,
Oct. 5
/CNW/ - O'Leary Funds Management LP ("O'Leary"), the manager of O'Leary Global Infrastructure Fund (TSX: OGN.un/OGN.wt) (the "Fund") is pleased to announce today that it intends to pay out an estimated special distribution of
$1.00
per class A unit ("Unit") to unitholders of record on
December 31, 2009
(the "Record Date"). O'Leary is also pleased to announce that it intends to call a special meeting of the unitholders of the Fund to propose a reorganization of the Fund into an open-ended mutual fund within the first quarter of 2010.
The estimated combined special and monthly distribution is expected to be paid on or before
January 15, 2010
. This special distribution is derived from realized capital gains on investments as well as other realized income sources. The Fund is required to distribute annually all of its realized net income (including realized capital gains) so that the Fund will not be liable to pay income tax under Part I of the Income Tax Act (
Canada
). Monthly regular distributions of
$0.06
per Unit will also be paid to unitholders of record on
October 30
,
November 30
and
December 31, 2009
. This special distribution will bring cumulative distributions to
$1.93
per Unit since inception of the Fund from
December 31, 2008
through
December 31, 2009
. The net asset value per Unit of the Fund as of
October 2, 2009
is
$13.27
(
$12.48
on a diluted basis).
Holders of warrants ("Warrants") of the Fund ("Warrantholders") who wish to participate in this special distribution must first exercise their Warrants in order to become unitholders of the Fund prior to the Record Date. In order to exercise such Warrants and purchase Units, Warrantholders must notify Computershare Trust Company of
Canada
between today and
5:00 p.m.
(
Toronto
time) on
October 15, 2009
or between
November 2, 2009
and
5:00 p.m.
(
Toronto
time) on
November 13, 2009
. Warrants are also exercisable on
November 30, 2009
prior to
5:00 p.m.
on that date. Warrants not exercised prior to
5:00 p.m.
(
Toronto
time) on
November 30, 2009
will be void and of no value.
The Fund is a closed-end investment fund managed by O'Leary. The Fund's investment objectives are to invest globally in: (i) publicly traded equity and debt securities issued by infrastructure issuers with market capitalizations of at least
$1 billion
; and (ii) investments in equity and debt securities of private issuers having infrastructure assets or operations.
For further information: Investor Relations for O'Leary Funds at (877) 849-2004 x226 or visit olearyfunds.com
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