AIC Limited

AIC Limited
Global Banks Premium Income Trust
TSX : GBP.UN

July 07, 2008 17:07 ET

Global Banks Premium Income Trust Files Preliminary Short Form Prospectus

BURLINGTON, ONTARIO--(Marketwire - July 7, 2008) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES.

AIC Limited, the Manager of Global Banks Premium Income Trust (the "Trust") (TSX:GBP.UN) is pleased to announce that the Trust has filed and has received a receipt from the securities regulators of all the Canadian provinces and territories for the preliminary short form prospectus dated July 4, 2008 for the issue of July 2009 Warrants and July 2010 Warrants. One July 2009 Warrant entitles the holder thereof to purchase one Unit at a price of $5.93 per Unit on April 1, 2009 at 4:00 p.m. or at a price of $5.95 per Unit at 4:00 p.m. on the last business day of each month starting on April 30, 2009 until July 31, 2009. One July 2010 Warrant entitles the holder thereof to purchase one Unit at a price of $6.00 per Unit on April 1, 2010 or at a price of $6.05 per Unit at 4:00 p.m. on the last business day of each month starting on April 30, 2010 until July 30, 2010.

The Trust is a non-redeemable investment fund whose investment objectives are:

(i) to provide Unitholders with monthly cash distributions targeted to be $0.05833 per Unit; and

(ii) to return at least $10.00 to Unitholders upon the termination of the Trust.

AIC Limited is the manager of the Trust (the "Manager"). AIC Investment Services Inc. is responsible for the Trust's overall investment strategy.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ''expect'', ''intend'', "will" and similar expressions to the extent they relate to the Trust. The forward-looking statements are not historical facts but reflect the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager 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. The Manager 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.

A preliminary short form prospectus dated July 4, 2008 containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from the issuer or are available electronically at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

All capitalized terms noted herein but not defined are as per the preliminary short form prospectus dated July 4, 2008.

Contact Information

  • Media Contacts:
    AIC Limited, Burlington ON
    Terri Oswald, Director, Media Relations
    (905) 331-4242, ext. 4345 or 1-888-710-4242, ext. 4345
    Email: toswald@aic.com
    Website: www.aic.com