Faircourt Asset Management Inc.

Faircourt Asset Management Inc.
Faircourt Split Trust
TSX : FCS.PR.B
TSX : FCS.UN

July 03, 2014 08:00 ET

Faircourt Split Trust Announces Annual Redemption

TORONTO, ONTARIO--(Marketwired - July 3, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Faircourt Asset Management Inc., the Manager of Faircourt Split Trust (the "Trust") (TSX:FCS.UN)(TSX:FCS.PR.B), announced today that Securityholders who tendered Combined Units (consisting of one Trust Unit and one Preferred Security) for redemption will be entitled to receive $17.2879 per Combined Unit, which is equal to $7.2691, being the Net Asset Value per Trust Unit calculated using a three day volume weighted average price for exchange-traded securities held by the Trust, determined as of June 30, 2014 less costs of funding the redemption, including commissions, plus the $10.00 principal amount of the Preferred Security, plus all accrued and unpaid interest thereon to but excluding July 11, 2014 (the "Payment Date"). Securityholders who submitted unmatched Trust Units (without matching Preferred Securities) will receive $7.2691 per Trust Unit. Payment in respect of the redemptions of Combined Units and unmatched Trust Units will be made in full on the Payment Date. In accordance with the previously announced reorganization and extension of the Trust, the deferred management fee accrued on the remaining securities of the Trust, totaling approximately $0.24 per unit was added back to the assets of the Trust on July 1, 2014.

Certain statements contained in this news release constitute forward-looking information. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Trust, to the future outlook of the Trust and anticipated events or results and may include statements regarding the future financial performance of the Trust. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

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