The following are the names, office(s) held and principal occupations of the directors and officers of the Company:
Brian D. McChesney
President, Chief Executive Officer and Director
Stephen D. Pearce
Chief Financial Officer, Secretary and Director
(Director, Scotia Capital Inc.)
(Managing Director, Scotia Capital Inc.)
Robert C. Williams
(Chairman, Morrison Park Advisors)
John B. Newman
(Chairman, Multibanc Financial Holdings Limited)
Stephens B. Lowden
J. Nicholas Ross
(Chairman and Chief Executive Officer, Rover Capital Corporation)
Michael K. Warman
|Net Asset Value (NAV) per Unit||$8.73|
|Market Price (TSX)||$8.35|
|Trailing 12-Month Distribution||$0.5850|
Distributions will be declared and paid monthly on the Units based on distributions received on the portfolio less estimated expenses and any taxes payable by the Trust. For historical distribution amounts, please see distribution information.
The following provides a summary of the retraction rights available to Unitholders. Please refer to the prospectus for complete details.
Unlike most mutual funds the Units are listed allowing holders to exit by selling their Units. In addition, they are also retractable once annually.The special annual retraction date occurs on December 31st of each year. On that date Unitholders are entitled to receive 100% of the net realized proceeds per Unit retracted.
The Trust is scheduled to wind up on April 30, 2018, and at that time, the Trust will distribute to Unitholders their pro rata portion of the net assets of the Trust unless Unitholders determine to continue the Trust by a two-thirds majority vote at a meeting called for such purpose.
Distributions received by the Trust from the portfolio securities will be distributed to the Unitholders monthly. Distributions received from issuers in the portfolio securities have various tax treatments: some are taxed as dividends, some as interest income and others as a return of capital. Amounts received as a return of capital are not taxable but must be used to reduce the adjusted cost base of an investor's Units. Dividends received by an individual are generally subject to the normal gross-up and dividend tax-credit rules applicable to dividends received on securities of a taxable Canadian Corporation.
The tax treatment and classification of revenue of distributions received are reported by the underlying issuers in the portfolio securities either at the time of declaration or on an annual basis.
A Unitholder will generally be required to include in the calculation of income the net income and the net realized taxable capital gains of the Trust paid or payable to the Unitholder in the year. If the distributions by the Trust to a Unitholder in any year exceed the net income and net realized capital gains of the Trust for the year paid or payable to the Unitholder, such distributions will not be taxable but will reduce the adjusted cost base of the Unitholder's Units. For a historical breakdown of distribution amounts, please see distribution information.