TORONTO - Sentry Select Capital Corp. (the “Manager”) is pleased to announce that Premier Value Income Trust (the “Trust”), an investment trust established under the laws of the Province of Ontario, has closed its initial public offering.
The Agents have been granted an over-allotment option to purchase up to 15 per cent of the aggregate number of Units issued at the closing.Gross proceeds - At the closing, the Trust issued 22,000,000 Units, for total gross proceeds of $220,000,000. Trading information - The Trust Units began trading on the Toronto Stock Exchange on February 15, 2005 under the symbol PVN.UN.
Investment Objectives - The Trust's investment objectives are to:
(i) provide the Unitholders with a stable stream of monthly distributions targeted to be $0.05833 per Unit ($0.70 per annum or 7.0% of the original issue price); (ii) return to Unitholders upon the termination of the Trust at least the original issue price ($10.00 per Unit) of the Units; and (iii) enhance long-term total return through capital appreciation of the portfolio of the Trust. The net proceeds from the Offering, together with any borrowings under the Trust’s contemplated loan facility, will be invested in a diversified portfolio of securities which will consist of units of commercial and industrial income trusts, real estate investment trusts and oil and gas royalty and income trusts. The Manager will use substantially the same investment strategy for the Trust as it does for two other Sentry Select closed-end trusts, Sentry Select Diversified Income Trust and Diversified Income Trust II.
The Agents - The Units were offered through a syndicate of agents co-led by RBC Capital Markets, CIBC World Markets Inc. and National Bank Financial Inc., which includes BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Dundee Securities Corporation, First Associates Investments Inc., Desjardins Securities Inc., Richardson Partners Financial Limited and Wellington West Capital Inc.
The Manager - Sentry Select is the manager of the Trust. Sentry Select is also responsible for providing or arranging for the provision of administrative services required by the Trust. Sentry Select is a wealth management company with current total assets under management of approximately $4.0 billion.
It is the manager or portfolio manager of:
• Sentry Select Diversified Income Trust (TSX:SDT.UN); • Diversified Income Trust II (TSX:DTT.UN); • Select 50 S-1 Income Trust (TSX:SON.UN); • Select 50 S-1 Income Trust II (TSX:SDE.UN); • Pro-Vest Growth & Income Fund (TSX:PRG.UN); • Sentry Select Focused Growth & Income Trust (TSX:SFG.UN); • COmmercial and INdustrial Securities Income Trust “COINS” (TSX: COI.UN); • Sentry Select Principal-Protected Blue Chip Notes™; • MBS Adjustable Rate Income Fund (TSX:MTF.UN); • Multi Select Income Trust (TSX:MST.UN, MST.PR.A); • Alliance Split Income Trust (TSX:ASI.PR.A, TSX:ASI.UN); • Strategic Energy Fund (TSX:SEF.UN); • Mortgage-Backed Securities Trust (TSX:MF.UN; TSX:MF.U); • Sentry Select Blue-Chip Income Trust (TSX:SIT.UN); • Sentry Select Global Index Income Trust (TSX:SGT.UN); • CAPVEST Income Corp. (TSX-V:CVS); • Three flow-through investment funds; and • Eight mutual funds that focus on a broad range of sectors of the economy;
More Information - Investor Services for broker/investor inquiries or Brian McOstrich for media inquiries. Tel: 1-888-246-6656 Fax: 416-364-1197 firstname.lastname@example.org www.sentryselect.com
Les documents (y compris les communiqués de presse) se rapportant aux divers fonds d'investissement pour lesquels Sentry agit à titre de gestionnaire ou de conseiller ne sont fournis qu'à titre informatif. Ces documents ne peuvent être considérés comme étant exhaustifs ou exempts d'erreur sans un examen approfondi de la totalité des documents se rapportant à un fonds d'investissement en particulier disponibles sur SEDAR (www.sedar.com).