CALGARY, June 8 /CNW/ - ATLANTIS FINANCIAL CORP. ("Atlantis"), a
corporation wholly owned by Jeffrey J. Smith ("J. Smith") of Calgary, Alberta,
announced today that as a result of (a) the December 31, 2006 automatic
conversion of 997,727 Class "B" Subordinated Units held by Atlantis into
Participating Trust Units; the (b) the payout of an additional 29,491
Participating Trust Units (including both vested and unvested Units) to J.
Smith under DirectCash Fund's Long Term Incentive Plan ("LTIP"); (c) the
exchange by Atlantis of 480,000 Exchangeable Units into Participating Trust
Units and (d) the sale of 480,000 Participating Trust Units by Atlantis, J.
Smith's holdings (directly and through Atlantis) in DirectCash Units has
changed from 2,763,360 Units to 2,312,851 Units.
After giving effect to this transaction, J. Smith (directly and through
Atlantis) holds 2,312,851 Units (18.54% of total). J. Smith intends to take
the position on a go forward basis that J. Smith and Atlantis do not act
jointly or in concert with any other holders of DirectCash Units. At present,
J. Smith has no intention to increase his holdings of DirectCash.
As of June 8, 2007 DirectCash has outstanding a total of
12,471,579 Units, comprised of 7,222,200 Participating Trust Units (i.e. the
listed Units) and 5,249,379 Special Voting Units (which are not listed).
For further information:
For further information: Arie Prins, Chief Financial Officer, DirectCash
Management Inc., Manager of DirectCash Income Fund, Direct: (403) 387-2103,
Fax: (403) 451-3003, e-mail: email@example.com