First Asset

First Asset

September 26, 2007 16:52 ET

First Asset: Press Release

TORONTO, ONTARIO--(Marketwire - Sept. 26, 2007) - First Asset Funds Inc. is pleased to announce the successful completion of the sale of its investment in Ventus Energy Inc. ("Ventus") to a subsidiary of Suez SA (NYSE:SZE).

First Asset Renewable Power Flow-Through Limited Partnership ("Partnership I") and First Asset Renewable Power Flow-Through LP IV ("Partnership IV") held core positions in Ventus. Details of each Partnership's respective interest in Ventus are set out below:



Partnership I
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No. of Shares Owned: 500,000
Cost: $1,150,000 (100% flow-through)
Date of Investment: December, 2004
Cash proceeds from sale: $2,605,000
Gain on Cost: 126%
Gain on Carrying-Value: 22%
Net Asset Value Per Unit: $9.14 (including gain on Ventus sale)

Partnership IV
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No. of Shares Owned: 1,873,684
Cost: $8,900,000 (100% flow-through)
Date of Investment: December, 2006
Cash proceeds from sale: $9,761,893
Gain on Cost: 9.7%
Gain on Carrying-Value: 22%
Net Asset Value Per Unit: $9.40 (including gain on Ventus sale)


Contact Information

  • First Asset
    Rob MacNiven
    Investor Relations
    (416) 642-1289 or 1-877-642-1289
    Website: www.firstasset.com