CALGARY, ALBERTA--(Marketwired - Sept. 19, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
EnerVest Diversified Income Trust ("EnerVest" or the "Fund") (TSX:EIT.UN) announced today the 2013 voluntary cash redemption, the September 2013 distribution and Q3 2013 distribution outlook.
VOLUNTARY ANNUAL CASH REDEMPTION
The redemption date for the Fund's annual voluntary cash redemption will be December 13, 2013. Unitholders are entitled to redeem units of the Fund at a price equal to 95% of the average Net Asset Value (NAV) of the three trading days preceding the December 13, 2013 redemption date, less direct costs. Direct costs are expected to be less than 1%. If all redemption requests exceed 10% of the aggregate outstanding units of the Fund on November 22, 2013, the final day to submit units for redemption, the Fund will process redemptions to this maximum on a pro-rata basis based on the total number of units tendered. Payment for units that have been tendered and accepted for redemption will be made on or before December 20, 2013.
Unitholders wishing to redeem their units must provide notice of their intent to do so with their investment advisor or brokerage office no later than November 22, 2013. Please note that investment firms may impose an earlier deadline in order to facilitate the processing of redemption requests. Unitholders are strongly urged to consult their investment advisor or brokerage office directly to confirm their internal deadlines. Registered unitholders (those who hold a physical share certificate in their name) should contact the Fund's transfer agent, Alliance Trust Company, at 403-237-6111 to redeem their units.
Please note that any redemption requests made by non-resident unitholders may be subject to withholding tax.
|September 20 - November 22, 2013:
||Unitholders may tender units for redemption
|November 15, 2013:
||EIT warrants (EIT.UN.D) with strike price of $11.94 expire
|December 10, 11 & 12, 2013:
||Redemption price determined based on average NAV of these trading days
|December 13, 2013:
|December 20, 2013:
||Payment of redemption proceeds on or before this date
SEPTEMBER 2013 DISTRIBUTION
The September distribution will be $0.10 per unit to be paid on October 15, 2013 to unitholders of record on September 30, 2013. The ex-distribution date for this payment is September 26, 2013.
THIRD QUARTER 2013 DISTRIBUTION OUTLOOK
For the third quarter of 2013, the Fund intends to pay a $0.10 per unit distribution for each of October, November and December. Exact record, payment and ex-distribution dates for each distribution will continue to be provided via news release on a monthly basis.
About the Fund
The Fund is one of Canada's largest, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN. The Fund is actively managed and invests in a diversified portfolio of income-generating and capital growth-oriented securities listed primarily on the TSX. The Fund is designed to maximize distributions relative to risk and maximize net asset value for the benefit of its unitholders. The Fund is managed by Robert Taylor, Senior Vice President and Portfolio Manager, Canoe Financial. Mr. Taylor is an award-winning portfolio manager and was directly responsible for managing more than $4 billion in assets in his previous position as Vice President and Portfolio Manager, Canadian Equities at BMO Global Asset Management.
About Canoe Financial LP
Canoe Financial is the Portfolio Manager and Manager of the Fund. Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!' investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.
Canoe is one of Canada's fastest-growing mutual fund companies and as at August 31, 2013, manages approximately $1.7 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.
Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial's current expectations regarding future results or events. Words such as "may," "will," "should," "could," "anticipate," "believe," "expect," "intend," "plan," "potential," "continue" and similar expressions have been used to identify these forward-looking statements. Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.
This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.