Mulvihill Premium Global Telecom
TSX : GT.PR.A
TSX : GT.A

Mulvihill Premium Global Telecom

September 24, 2007 09:00 ET

Mulvihill Premium Global Telecom Fund Announces Annual Results

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2007) - Mulvihill Premium Global Telecom (The "Fund") announces results for the year ended June 29, 2006. Net realized income before distributions amounted to $1.3 million or $0.52 per unit. Distributions paid to Preferred shareholders amounted to $2.0 million or $0.83 per Preferred share.

Each unit consists of one Class A share and one Preferred share. Preferred share distributions are cumulative at a rate of 5.5% of their par value of $15.00. In respect of the Class A Shares, distributions on the Class A shares continue to be suspended until such time as the value of the underlying portfolio and coverage on the Preferred Shares improves.

The Fund is a mutual fund corporation, which invests its net assets in a diversified portfolio (the "Portfolio") consisting principally of common shares issued by corporations within the Fund's Global Telecom Universe. To generate additional returns above the dividend income earned on the Portfolio, the Fund may, from time to time, write covered call options in respect of all or part of the common shares in the Portfolio. In addition, the Fund may write cash covered put options in respect of securities in which the Fund is permitted to invest.

The Fund's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. The Fund's Preferred and Class A shares are listed on The Toronto Stock Exchange under the symbols GT.PR.A and GT.A.



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Selected Financial Information: ($ Millions)

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Statement of Operations
For the year ended June 29, 2007 (Audited)

Revenue $1.3
Net Realized Gains 0.7
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$2.0

Less: Expenses (0.7)
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Net Realized Income Before Distributions $1.3

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A member of the Mulvihill Capital Management Inc. Group of Funds

Contact Information

  • Mulvihill Structured Products
    John Mulvihill
    President & CEO
    (416) 681-3966 or 1-800-725-7172
    or
    Mulvihill Structured Products
    Don Biggs
    Senior Vice President
    (416) 681-3966 or 1-800-725-7172
    Email: hybrid@mulvihill.com
    Website: www.mulvihill.com