Mavrix Balanced Income and Growth Trust today announced today that its merger with Mavrix Canadian Income Trust Fund has been completed.
Units of the trust have been redeemed and unitholders have been issued their pro rata share of the Class A mutual fund units issued to the trust in connection with the merger.
The exchange ratio for the merger was calculated based on the net asset value per unit as at the close of business on September 29 for both the trust and the mutual fund.
The trust received an aggregate of 3,419,935 Class A mutual fund units pursuant to the merger. For each unit of the trust held, unitholders received 0.90363800 of a Class A mutual fund unit.
The last day of trading for the units of the trust on the Toronto Stock Exchange was September 29.
The trust’s regular monthly distribution in the amount of 5.83333¢/unit payable to unitholders of record on September 29, will be paid on October 16. No further distribution will be made in connection with the merger.
Mavrix completes fund merger
Mavrix Balanced Income and Growth Trust merged into Mavrix Canadian Income Trust Fund
- By: IE Staff
- October 2, 2006 October 2, 2006
- 11:10