First Asset



First Asset
First Asset Canadian Dividend Opportunity Fund II

TSX : DVF.UN


First Asset Canadian Dividend Opportunity Fund II

February 14, 2014 18:30 ET

First Asset Canadian Dividend Opportunity Fund II Announces Updated Conversion Details

TORONTO, ONTARIO--(Marketwired - Feb. 14, 2014) -

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

On January 13, 2014, First Asset Canadian Dividend Opportunity Fund II (TSX:DVF.UN) (the "Fund") announced that it would proceed with its previously announced conversion ("Conversion") by way of a merger. The manager of the Fund has subsequently determined that certain of the conditions required to permit the merger may not be met in a timely manner and accordingly that the Fund will effect the Conversion by converting into a mutual fund.

The manager anticipates implementing the Conversion on or about March 6, 2014. In order to permit the completion of the Conversion, units of the Fund will be delisted from the Toronto Stock Exchange as at the close of business on March 5, 2014.

Following the completion of the Conversion:

  • The Fund's investment objectives will remain the same, other than such changes required in order to comply with applicable rules governing mutual funds. In particular, the Fund will no longer be permitted to utilize leverage to pursue its investment objectives

  • Units of the Fund will be redeemable daily on demand at net asset value. As set out in the Fund's prospectus, units that are redeemed will receive an amount equal to the net asset value per unit, less a redemption fee payable to the manager from the amount otherwise receivable by the redeeming holder determined according to the following schedule:

    • Until February 28, 2015, a redemption fee of $0.20 per unit;
    • Until February 29, 2016, a redemption fee of $0.15 per unit;
    • Until February 28, 2017, a redemption fee of $0.10 per unit; and
    • Effective March 1, 2017, no redemption fee.

  • The record date for the Fund's monthly distribution after the Conversion will change from the last business day of each month to the second last business day of each month to reflect industry practice.

If you have any questions concerning this matter, please contact your financial advisor or call us at 416-642-1289 or toll free at 1-877-642-1289 or visit www.firstasset.com.

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