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Gold/Mining/Energy : Triax Diversified High Yield Trust Units

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To: Francois Martin who wrote (36)	3/22/1998 8:52:00 PM
From: kingfisher	Read Replies (1) of 39

Meeting Scheduled for April 29.Current Asset Value $15.12 .Shares trading at $13.65.Projected distributions 1998 $1.30 Triax Diversified High-Yield Trust - Amendments to the trust agreement to be authorized Triax Diversified High-Yield Trust TRH.UNShares issued 147000001998-03-13 close $13.65Monday Mar 16 1998Mr Tim Diamond reports Triax Diversified High Yield Trust gives notice that March 23 1998 has been fixed as the record date for determination of those unitholders entitled to receive notice and to vote at a special meeting of unitholders to be held in April 1998. Extraordinary resolutions will be presented for unitholders' approval at this meeting to authorize amendments to the trust agreement to: 1.Add the ability of the trust to repurchase units in the marketplace under certain circumstances; 2.Add quarterly rights of unitholders to redeem units; 3.Change the frequency of distributions of income to monthly from quarterly; 4.Remove certain limitations of the trustee to allot and issue units subsequent to the initial issuance of units. The proposed amendments to add the ability to repurchase units and to allow quarterly redemptions are intended to reduce the discount from the net asset value of the units which their trading price has historically represented. Unitholders whose units are redeemed will be entitled to receive a redemption price per unit equal to the net asset value per unit, less an amount equal to 6.75% of the net asset value per unit in respect of redemptions to and including December 31 1998, declining by 0.75% for each year or part year remaining up until December 31 2006. The proposed amendment to change the frequency of distributions to monthly from quarterly is in response to investor demand. The proposed amendment to remove limitations on the subsequent issuance of units is intended to add flexibility for the trust to manage the liquidity of the units, in view of market demand and to the extent to which market repurchases and unitholder redemptions affect the existence of an efficient market for the units. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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