CALGARY, ALBERTA--(Marketwire - Sept. 17, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
EnerVest Diversified Income Trust ("EnerVest" or the "Fund") (TSX:EIT.UN) announced today the 2012 voluntary cash redemption and the September 2012 distribution.
VOLUNTARY ANNUAL CASH REDEMPTION
The redemption date for the Fund's annual voluntary cash redemption will be November 22, 2012. 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 November 22, 2012 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, the Fund will process redemptions to this maximum on a pro- rata basis based on the total amount tendered. Please note that any units tendered for redemption in excess of this 10% maximum will be returned to the unitholder on a pro-rata basis following the November 22, 2012 redemption date. Payment for units that have been tendered and accepted for redemption will be made on or before December 21, 2012.
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 1, 2012. 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 the 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.
Please note that any redemption requests made by non-resident unitholders may be subject to withholding tax.
|September 18 - November 1, 2012:
||Unitholders may tender units for redemption
|November 19, 20 & 21, 2012:
||Redemption price determined based on average NAV of these trading days
|November 22, 2012:
|December 21, 2012:
||Payment of redemption proceeds on or before this date
|February 22, 2013:
||EIT warrants (EIT.WT.C) with strike price of $13.26 expire
SEPTEMBER 2012 DISTRIBUTION
The September distribution will be $0.10 per unit to be paid on October 12, 2012 to unitholders of record on September 28, 2012. The ex-distribution date for this payment is September 26, 2012.
About the Fund
The Fund is one of Canada's largest, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN. The Fund is actively managed and invests in a diversified portfolio of income- generating and capital growth-oriented securities listed primarily on the TSX. The Fund is designed to maximize distributions and net asset value for the benefit of its unitholders. The Fund is managed by Bob Haber of Haber Trilix Advisors.
About Canoe Financial LP
Canoe Financial is the Portfolio Manager and Manager of the Fund. Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!' investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.
Canoe is one of Canada's fastest-growing investment fund companies and currently manages approximately $1.8 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.
Bob Haber is the Chief Executive Officer and Chief Investment Officer of Haber Trilix Advisors, LP, located in Boston, Massachusetts, who is a sub-advisor to Canoe Financial LP. Canoe is the registered Portfolio Manager and Manager of the Fund.
Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financials current expectations regarding future results or events. Words such as "may," "will," "should," "could," "anticipate," "believe," "expect," "intend," "plan," "potential," "continue" and similar expressions have been used to identify these forward-looking statements. Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.
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.2