TORONTO, ONTARIO--(Marketwire - Sept. 11, 2012) - Canadian Income Management CIM Limited (the "Corporation"), the administrator of Canadian Income Management Trust (the "Trust"), announces that, in accordance with the Trust Indenture dated February 21, 2006 as amended from time to time, the Trust was terminated at the end of business on September 7, 2012.
An amount of $1.79 per Trust unit was distributed to the Trust's unitholders of record on September 7, 2012. This amount represents the unitholders' pro rata share of the proceeds from the liquidation of the Trust's assets (together with any cash on hand) following the payment, retirement or discharge of all known liabilities and obligations of the Trust, and the provision of indemnity against any other outstanding liabilities and obligations.
For tax purposes, the above-noted distribution will be treated as a disposition of Trust units for proceeds of disposition equal to the cash received. Unitholders will consequently realize a capital gain (or capital loss), depending upon whether the proceeds of disposition received exceed (or are less than) the adjusted cost base of the Trust units so redeemed and any reasonable costs of disposition.
Sentry Investments ("Sentry") is a Canadian asset management company with over $8 billion in assets under management on behalf of Canadian investors. Sentry offers a diverse range of investment products including mutual funds and flow-through limited partnerships. Sentry was recognized as Canada's Best Equity Funds Group at the 2011 and 2012 Lipper Fund Awards and received the Brendan Wood International TopGun Asset Management Team Award in 2010 and 2011.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "intend," "will" and similar expressions to the extent they relate to Sentry, the Corporation or the Trust. The forward-looking statements are not historical facts but reflect Sentry's and the Corporation's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry and the Corporation believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry and the Corporation undertake no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record of the Corporation or the Trust, please visit their profiles at www.sedar.com.
Sentry Investments Inc.
Commerce Court West
199 Bay Street, Suite 4100
P.O. Box 108
Toronto, ON M5L 1E2
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).