Energy Plus Income Trust

Energy Plus Income Trust

January 11, 2007 19:03 ET

Energy Plus Income Trust Announces Redemption Amount

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2007) - Energy Plus Income Trust (TSX:EPF.UN) announces the redemption price of $7.92 per trust unit in respect of the most recent redemption date of December 28, 2006. This amount will be paid to redeeming unitholders on January 15, 2007.

Trust units of Energy Plus may be surrendered for redemption in December of any year, but must be surrendered at least 20 business days prior to the redemption date. Trust units surrendered for redemption are redeemed on the redemption date at a redemption price per unit equal to 100% of the net asset value on the redemption date less the costs of, and associated with, selling a corresponding amount of the portfolio, including commissions. For the purposes of calculating this net asset value, the value of the portfolio securities comprising the portfolio is equal to the weighted average trading price of such securities over the last three business days of the month of December.

For the most recent redemption date of December 28, 2006, approximately 9% of the Trust was tendered for redemption. As a result the Trust's Investment Manager executed a basket trade to sell an undivided 9% of the Trust's portfolio. The combined costs of, and associated with, selling that portion of the portfolio were $0.67 per trust unit compared to $0.05 per trust unit for the 2005 redemption date.

Contact Information

  • Energy Plus Income Trust
    Joe MacDonald
    Executive Vice President, Sales and Marketing