Income Financial Trust
TSX : INC.un

Income Financial Trust

August 12, 2014 09:25 ET

Income Financial: Announces Rights Offering

TORONTO, ONTARIO--(Marketwired - Aug. 12, 2014) - Income Financial Trust (the "Trust") announces that it will issue Rights to all Unitholders thereby allowing existing Unitholders to increase their investment in the Trust. Each Unitholder will be entitled to receive one Right for each Unit held as of the record date of August 25, 2014. Four Rights will entitle the Unitholder to purchase one Unit for the subscription price of $10.72. The Rights are exercisable at any time once issued and will expire at 5:00 p.m. (EST) on November 3, 2014.

The net proceeds from the subscription of Units will be used to acquire additional securities in accordance with the Trust's investment objectives. The exercise price is consistent with the current trading price and accretive to the most recently published net asset value per Unit. The offering is expected to increase the trading liquidity of the Trust and reduce the management expense ratio.

The Units trade on the Toronto Stock Exchange (the "TSX") under the symbol "INC.UN". The Rights will be listed and will trade on the TSX until 12:00 noon (EST) on November 3, 2014. The Rights will be eligible for exercise on and following August 26, 2014.

Income Financial invests in a portfolio of North American financial services companies including some of the strongest Canadian & U.S. banks, life insurance and investment firms.

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.

Contact Information

  • Income Financial Trust
    Investor Relations
    416-304-4443 / Toll Free 1-877-4-Quadra (1-877-478-2372)