November 10, 2005 09:30 ET

MYDAS Fund Announces 2-for-1 Unit Split

CALGARY, ALBERTA--(CCNMatthews - Nov. 10, 2005) - MYDAS Fund (TSX:MYF.UN) announces that it has received all the necessary unitholder and regulatory approvals to proceed with the Fund's previously announces stock split and will be completing the stock split effective November 15, 2005. As a result on November 15, 2005 each issued trust unit of MYDAS Fund will be subdivided into two trust units. It is expected that the greater number of outstanding trust units resulting from the stock split will provide a wider opportunity for investors to become unitholders of MYDAS Fund and increase liquidity in MYDAS Fund's listed securities. The stock split was approved at a special meeting of the unitholders of MYDAS Fund held on September 14, 2005.

Each unitholder of MYDAS Fund of record on November 15, 2005 will receive one (1) additional trust unit for every trust unit held. No action is required by unitholders. The units will begin trading on a two-for-one split basis at the market opening on Thursday, November 10, 2005.

MYDAS Fund's name and trading symbol will not change as a result of the stock split. MYDAS Fund currently has 9,573,006 trust units issued and outstanding and will have 19,146,012 trust units issued and outstanding upon completion of the stock split.

Contact Information

  • MYDAS Fund
    Joe MacDonald
    Executive Vice President, Sales and Marketing