Sentry Select Capital Corp.

Sentry Select Capital Corp.
Canadian Income Management Trust

Canadian Income Management Trust

June 11, 2008 15:09 ET

Canadian Income Management Inc. Reinstates Management Fees

TORONTO, ONTARIO--(Marketwire - June 11, 2008) - Canadian Income Management Trust (TSX:CNM.UN) -

The Board of Directors of Canadian Income Management Inc. (the "Corporation"), in its capacity as general partner of Canadian Income Management LP (the "Partnership"), announces that, effective June 11, 2008, the management fees payable to Pro-Vest Management Inc. for management services provided to the Partnership under the terms of the Partnership Management Agreement, dated February 21, 2006, will be partially reinstated to 0.75% of the net asset value of the Partnership per annum. The original management fee of 2% was reduced to 1.5% effective July 1, 2006 and suspended effective January 1, 2007.

Market price and NAV

Canadian Income Management Trust (the "Trust") units trade on the Toronto Stock Exchange ("TSX") under the symbol CNM.UN. As of June 10, 2008, the Trust's closing price on the TSX was $0.85 per unit and the latest reported net asset value ("NAV"), as of June 5, 2008, was $1.80 per unit. The Trust's NAV as of December 31, 2006, when the management fee was suspended, was $0.61 per unit.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect Sentry Select's current expectations regarding future results or events. Although Sentry Select Capital Corp. ("Sentry Select") believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry Select undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615

Contact Information

  • Sentry Select Capital Corp.
    Investor Services
    (broker/investor inquiries)
    (416) 364-1197 (FAX)
    Sentry Select Capital Corp.
    Kevin Cohen
    (General Counsel)
    (416) 364-1197 (FAX)