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Gold/Mining/Energy : Triax Diversified High Yield Trust Units
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To: kingfisher who wrote (34)12/8/1997 3:07:00 PM
From: kingfisher  Read Replies (1) of 39
 
Triax Diversified High-Yield Trust -

Shareholder approval sought for structural changes

Triax Diversified High-Yield Trust TRH.IRShares issued 147000001997-12-05 close $6.45Monday Dec 8 1997Mr Mark Diamond reports Triax Diversified High-Yield Trust intends to call and hold a meeting of unitholders of the trust to consider, and, if acceptable, approve certain structural changes to the trust, including the addition of limited rights to redeem units and an ability for the trust to repurchase units in the marketplace. In addition to unitholder approval, the changes are subject to all necessary regulatory approvals. The timing of the meeting has not yet been finalized and will be set in the new year, but the meeting will take place after February 19 1998 (the final instalment date), when the units are fully paid. As at the close of markets on December 5, the net asset value of Triax Diversified High-Yield Trust was $8.70 per instalment receipt. Net asset value, for the purpose of this calculation, includes approximately $0.80 per instalment receipt representing deferred and amortized commissions and expenses of the initial public offering by the trust. The trust's estimated annualized yield, calculated by annualizing the approximately $0.43 of interest income distributions to date in 1997 and dividing by price, is 13.24% based upon a market price of $6.45 per instalment receipt and 10.68% based upon the issue price of $8.00. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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