Canoe EIT Income Fund Announces 2020 Voluntary Cash Redemption
October 08 2020 - 10:15PM
Canoe EIT Income Fund (“Canoe” or the “Fund”)(TSX - EIT.UN) today
announced the 2020 voluntary cash redemption.
Voluntary Annual Cash Redemption
The redemption date for the Fund’s annual voluntary cash
redemption will be December 9, 2020. 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
9, 2020 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 17,
2020, 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
January 2, 2021.
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 17, 2020. 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. Units that have been submitted for redemption
will remain eligible for the October 2020 and November 2020
distributions, which are paid in November 2020 and December 2020,
respectively.
Please note that any redemption requests made by non-resident
unitholders may be subject to withholding tax.
Key Dates
October 9 - November 17, 2020 |
Unitholders may tender units for redemption |
December 4, 7 & 8, 2020 |
Redemption price determined based on average NAV of these trading
days |
December 9, 2020 |
Redemption date |
January 2, 2021 |
Payment of redemption proceeds on or before this date |
About Canoe EIT Income Fund
One of Canada’s largest closed-end investment funds, designed to
maximize monthly distributions and capital appreciation by
investing in a broadly diversified portfolio of high quality
securities. The Fund is listed on the TSX under the symbol EIT.UN
and is actively managed by Robert Taylor, Senior Vice President and
Portfolio Manager of Canoe Financial.
About Canoe Financial
Canoe Financial is one of Canada’s fastest growing independent
mutual fund companies managing over $8.0 billion in assets across a
diversified range of award-winning mutual funds and private energy
equity products. Founded in 2008, Canoe Financial is an
employee-owned investment management firm focused on building
financial wealth for Canadians. Canoe Financial has significant
national presence across Canada, including offices in Calgary,
Toronto and Montreal.
For further information, please
contact:Investor
Relations1–877–434–2796www.canoefinancial.cominfo@canoefinancial.com
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