TORONTO: Sentry Select Capital Corp. announces that Canadian Income Management Inc. (the “Corporation”) and Canadian Income Management Trust (the “Trust”) have withdrawn the private placement offering in order to pursue a public offering at a later date.
Canadian Income Management: The investment objectives of the Corporation include: (i) to provide Debentureholders with semi-annual interest payments at a rate of 7% per annum, and (ii) to preserve and potentially enhance the value of the portfolio in order to repay the Debentures at maturity.
The investment objectives of the Trust are: (i) to provide unitholders with semi-annual cash distributions, currently expected to be $0.155 per Trust Unit per annum (7.75% of the issue price of the Trust Securities issued pursuant to the initial public offering of the Corporation and the Trust), and (ii) to preserve and potentially enhance the value of the portfolio in order to return to unitholders at least $2.00 per Trust Unit upon the termination of the Trust in 2012.
The Investment Manager: Sentry Select Capital Corp. provides investment, administrative and marketing services to 25 exchange-listed closed-end funds, 15 of which have exposure to the income trust sector, 16 mutual funds, 13 principal-protected notes and three flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of May 31, 2006, the firm had approximately $8.0 billion in gross assets under management.
More information: Investor Services (broker/investor inquiries) or Brian McOstrich (media inquiries) Tel: 1-888-246-6656 Fax: 416-364-1197 firstname.lastname@example.org www.sentryselect.com
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