Canoe EIT Income Fund Announces 2023 Voluntary Cash Redemption
October 06 2023 - 5:38PM
Canoe EIT Income Fund (“Canoe” or the “Fund”)(TSX - EIT.UN) today
announced the 2023 voluntary cash redemption.
Voluntary Annual Cash Redemption
The redemption date for the Fund’s annual voluntary cash
redemption will be December 8, 2023. 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
8, 2023 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,
2023, 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 3, 2024.
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, 2023. 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 2023 and November 2023
distributions, which are paid in November 2023 and December 2023,
respectively.
Please note that any redemption requests made by non-resident
unitholders may be subject to withholding tax.
Key Dates
October 10 - November 17, 2023 |
Unitholders may tender units for redemption |
December 5, 6, & 7, 2023 |
Redemption price determined based on Average NAV of these trading
days |
December 8, 2023 |
Redemption date |
January 3, 2024 |
Payment of redemption proceeds on or before this date |
About Canoe EIT Income Fund
Canoe EIT Income Fund is 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 Chief Investment
Officer, Canoe Financial.
About Canoe Financial
Canoe Financial is one of Canada’s fastest
growing independent mutual fund companies managing $13.4 billion in
assets across a diversified range of award-winning investment
solutions. Founded in 2008, Canoe Financial is an employee-owned
investment management firm focused on building financial wealth for
Canadians. Canoe Financial has a significant presence across
Canada, including offices in Calgary, Toronto and Montreal.
ContactInvestor
Relations1–877–434–2796info@canoefinancial.com
Not for Distribution to U.S. Newswire
Services or for Dissemination in the United States of
America.
The Fund makes monthly distributions of an
amount comprised in whole or in part of Return of Capital (ROC) of
the net asset value per unit. A ROC reduces the amount of your
original investment and may result in the return to you of the
entire amount of your original investment. ROC that is not
reinvested will reduce the net asset value of the fund, which could
reduce the fund’s ability to generate future income. You should not
draw any conclusions about the Fund’s investment performance from
the amount of this distribution. Commissions, trailing commissions,
management fees and expenses all may be associated with investment
funds. Please read the information filed about the Fund on
www.sedar.com before investing. Investment funds are not guaranteed
and past performance may not be repeated. This communication is not
to be construed as a public offering to sell, or a solicitation of
an offer to buy securities. Such an offer can only be made by way
of a prospectus or other applicable offering document and should be
read carefully before making any investment. This release is for
information purposes only. Investors should consult their
Investment Advisor for details and risk factors regarding specific
strategies and various investment products.
Canoe EIT Income (TSX:EIT.UN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Canoe EIT Income (TSX:EIT.UN)
Historical Stock Chart
From Apr 2023 to Apr 2024