---- Another rights play coming ?????????
Sentry Select Diversified Income Trust (TSE: SDT.UN)
Announces Rights Offering
TORONTO, ONRATIO--Sentry Select Diversified Income Trust (the ``Trust'') announces
that it will issue Rights to subscribe for Trust Units to its Unitholders of record at the close of
business on October 19, 2001.
Rights and subscription price
Each Unitholder will receive one Right for each Trust Unit held on the record date. Four
Rights will entitle the holder to purchase one Trust Unit at a price of $3.55 until 5:00 p.m.
(Eastern time) on November 26, 2001.
Discount to NAV and closing price
The exercise price of $3.55 per Trust Unit represents a discount of 18% to the net asset
value of $4.31 per Unit and a discount of 14.3% to the closing price of $4.14 per Unit, both
at the close of business on October 4, 2001.
Net proceeds
If all of the Rights are exercised, the Trust will issue 10,992,883 Units and receive net
proceeds of approximately $39,024,735. The Rights Offering Circular is expected to be
mailed to the Trust's Unitholders on or before October 26, 2001.
Additional Trust Units
Holders of Rights who fully exercise their Rights are entitled to subscribe for additional Trust
Units, if available, at a price equal to the subscription price ($3.55 per Unit).
Symbol on TSE
The Toronto Stock Exchange has approved the listing of the Rights, which are expected to
commence trading on October 17, 2001 under the symbol SDT.RT. |
