EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

September 08, 2010 17:24 ET

EnerVest Diversified Income Trust Announces Annual Redemption Price

CALGARY, ALBERTA--(Marketwire - Sept. 8, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

EnerVest Diversified Income Trust ("EnerVest" or "the Fund") (TSX:EIT.UN) announces that all units accepted for the voluntary annual redemption will receive a price of $14.75 per unit in Canadian dollars. This price is equal to 95% of the average net asset value based on the three business days preceding the redemption date of September 7, 2010, less direct costs. Effective today, September 8, 2010, EnerVest has remitted redemption proceeds to its transfer agent, Computershare, for deposit into Unitholder accounts. 

As previously announced on August 18, 2010 requests for redemption of approximately 35.6 million units were submitted by Unitholders. The Fund's Declaration of Trust limits the number of units redeemed pursuant to the annual redemption to 10% of the issued and outstanding units on the Redemption Date. Based on the number of units outstanding as of September 7th, 2010, redemption requests will be pro rated to approximately 26.6% of units tendered, subject to rounding. Any remaining units not accepted for redemption will also be returned to redeeming Unitholders on or before September 14, 2010. 

About EnerVest

EnerVest Diversified Income Trust is Canada's largest and most liquid closed-end investment fund. Listed on the Toronto Stock Exchange under the symbol EIT.UN, the Fund is an actively managed diversified portfolio of income generating and capital growth securities, designed to maximize distributions and Net Asset Value for the benefit of its unitholders.

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