CALGARY, June 8 /CNW/ - POLIHALE INVESTMENTS LTD. ("Polihale"), a
corporation wholly owned by Susan M. Gallacher ("S. Gallacher") 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 Polihale
into Participating Trust Units; the (b) the payout of an additional 29,491
Participating Trust Units (including both vested and unvested Units) to S.
Gallacher under DirectCash Income Fund's Long Term Incentive Plan ("LTIP");
(c) the exchange by Polihale of 480,000 Exchangeable Units into Participating
Trust Units and (d) the sale of 480,000 Participating Trust Units by Polihale,
S. Gallacher's holdings (directly and through Polihale) in DirectCash Units
has changed from 2,778,285 Units to 2,327,776 Units.
After giving effect to this transaction, S. Gallacher (directly and
through Polihale) holds 2,327,776 Units (18.66% of total). S. Gallacher
intends to take the position on a go forward basis that S. Gallacher and
Polihale do not act jointly or in concert with any other holders of DirectCash
Units. At present, S. Gallacher has no intention to increase her holdings of
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