SFO.PR.A to Mature on Schedule

Sentry Select has announced:

that, in accordance with its initial terms, the Trust’s capital units and preferred securities will be delisted from the Toronto Stock Exchange at the close of business on Monday, November 24, 2008. The delisting of the capital units and preferred securities is being done in preparation for the conversion of the Trust into an open-ended mutual fund (the “Conversion”), which is expected to occur on December 2, 2008. The Trust’s preferred securities will mature prior to the Conversion, on December 1, 2008 (the “Maturity Date”). The Manager currently has sufficient cash on hand to repay the preferred securities and any other payment obligations on the Maturity Date.

It is Sentry Select’s current intention to merge the converted Trust with Sentry Select Canadian Income Fund (“CIF”) in early 2009 (the “Merger”). The Merger would be subject to any applicable unitholder and regulatory approvals. Following the Conversion and until further notice, Sentry Select anticipates that the Trust will pay a monthly distribution of $0.027 per unit, which, based on the net asset value per capital unit of $4.13 at the close of business on November 17, 2008, will provide unitholders with a yield of 7.85%. This yield would be similar to the yield of CIF, which was approximately 7.88% as of the close of business on November 17, 2008.

SFO was mentioned on PrefBlog when dividends on capital units were suspended. SFO.PR.A is not tracked by HIMIPref™.

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