Stone & Co. Limited

Stone & Co. Limited
Stone 2007-II Flow-Through Limited Partnership

Stone 2007-II Flow-Through Limited Partnership

April 06, 2009 14:45 ET

Stone 2007-II Flow-Through Limited Partnership Completes Rollover

TORONTO, ONTARIO--(Marketwire - April 6, 2009) - Stone & Co. Limited ("SCL"), the administrator of Stone 2007-II Flow-Through Limited Partnership (the "Partnership"), announced that the Partnership completed the transfer and sale (the "Rollover Transaction") of all of the property and assets of the Partnership on a tax-deferred basis to Stone & Co. Corporate Funds Limited (the "Mutual Fund Corporation") in exchange for Series A Resource Plus Class shares of the Mutual Fund Corporation (the "Resource Plus Class Shares") on Friday April 3, 2009 (the "Rollover Date").

Limited partnership units ("Units") of the Partnership were exchanged on a tax-deferred basis for Resource Plus Class Shares with equal value pursuant to a transfer agreement between the Partnership and the Mutual Fund Corporation. On the Rollover Date, the Partnership received 3.223 Resource Plus Class Shares of the Mutual Fund Corporation for each Unit held based on a net asset value of $5.9683 per Unit and a net asset value of $1.8517 per Resource Plus Class Share. The capital gains tax liability that would arise upon disposition can be deferred by retaining the Resource Plus Class Shares of the Mutual Fund Corporation.

SCL manages and administers a family of open-ended mutual funds, a series of flow-through limited partnerships and two TSX listed closed-end investment funds. SCL specializes in structuring and managing high quality investment products and currently has approximately $658 million in assets under management. Stone Asset Management Limited is the investment advisor of the Mutual Fund Corporation.

Contact Information