Faircourt Asset Management has announced:
that it has filed a preliminary short form prospectus in each of the provinces of Canada in connection with a distribution to its unitholders of rights exercisable for units of the Trust (the “Rights Offering”).
Under the Rights Offering, holders of units of the Trust as of the record date (to be established) will receive one right for each trust unit held as of the record date. Each right will entitle the holder thereof to purchase one trust unit of the Trust at a price to be determined in consultation with the dealer manager, TD Securities Inc. The record date, expiry date and the issue price of the units will be determined at the time of filing the final short form prospectus in respect of the Rights Offering.
The Rights Offering will include an additional subscription privilege under which holders of rights who fully exercise their rights will be entitled to subscribe for additional trust units, if available, that were not otherwise subscribed for in the Rights Offering.
The Trust will use the net proceeds of this issue to increase capital for investment and reduce leverage associated with the preferred securities of the Trust.
Distributions to capital unitholders were recently halted. FIG.PR.A is currently under Review-Negative by DBRS.
FIG.PR.A is tracked by HIMIPref™. It is a member of the InterestBearing subindex.
This entry was posted on Monday, November 10th, 2008 at 7:03 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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FIG.PR.A: Capital Unitholders get Rights Offering
Faircourt Asset Management has announced:
Distributions to capital unitholders were recently halted. FIG.PR.A is currently under Review-Negative by DBRS.
FIG.PR.A is tracked by HIMIPref™. It is a member of the InterestBearing subindex.
This entry was posted on Monday, November 10th, 2008 at 7:03 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.