Strathbridge Asset Management has announced (although not yet on their website):
Premium Income Corporation (the “Fund”)(TSX: PIC.A)(TSX:PIC.PR.A)(TSX:PIC.RT) is pleased to announce that beginning Monday December 3, 2012 through Tuesday December 11, 2012 the Fund will be calculating and publishing on its website, a daily Net Asset Value per share with respect to its Class A Shares and Preferred Shares. This is being done to assist shareholders in making a fully informed investment decision regarding the exercise of Rights recently issued and which expire on December 11, 2012.
Under the Rights offering two Rights entitle the holder to acquire one Class A Share and one Preferred Share upon payment of the subscription price of $20.88 prior to the expiry date of December 11, 2012. Any Rights not exercised by December 11, 2012 will expire and be of no value. To exercise Rights holders should contact their advisors or dealers. Please note that some dealers may have an earlier deadline in order to process the exercise request.
After the expiry of the Rights on December 11, 2012 the Fund will revert to calculate its Net Asset Value on a weekly basis.
For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.
The rights issue was reported on PrefBlog.
PIC.PR.A is tracked by HIMIPref™ but is relegated to the Scraps index on credit concerns.
This entry was posted on Friday, November 30th, 2012 at 10:25 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
PIC.PR.A To Be Valued Daily Until Rights Expiry
Strathbridge Asset Management has announced (although not yet on their website):
The rights issue was reported on PrefBlog.
PIC.PR.A is tracked by HIMIPref™ but is relegated to the Scraps index on credit concerns.
This entry was posted on Friday, November 30th, 2012 at 10:25 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.