Energy Plus Income Trust

Energy Plus Income Trust

March 02, 2007 15:07 ET

Energy Plus Income Trust Announces Revised Redemption Amount

CALGARY, ALBERTA--(CCNMatthews - March 2, 2007) - Energy Plus Income Trust (TSX:EPF.UN) announces a revised redemption price in respect of its most recent redemption date of December 28, 2006. On January 11, 2007 Energy Plus announced that its December 2006 redemption price was $7.92 per trust unit. Following an internal review of the method used in determining the December 2006 redemption price, Energy Plus has concluded that certain trading losses had been incorrectly included in the calculation of the "costs of, and associated with, selling a corresponding amount of the portfolio". After removing these trading losses the revised December redemption price is $8.56 or $0.64 per trust unit greater than originally indicated. This additional amount will be paid to redeeming unitholders on March 6, 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. The redemption date is the second last business day in December of each year. 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.

Contact Information

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