Press release from Marketwire
Front Street Strategic Yield Fund Ltd. Redemption of Equity Shares Pursuant to 2013 Special Redemption Right
Friday, May 17, 2013
Front Street Strategic Yield Fund Ltd. Redemption of Equity Shares Pursuant to 2013 Special Redemption Right09:17 EDT Friday, May 17, 2013
TORONTO, ONTARIO--(Marketwired - May 17, 2013) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE SERVICES
Front Street Strategic Yield Fund Ltd. ("FSS") (TSX:FSS) announced that 5,844,228 equity shares, representing approximately 68.75% of the outstanding equity shares of FSS, have been retracted pursuant to the special redemption right implemented by FSS (the "2013 Special Redemption Right"). Payment for redemptions will be made on or about May 24, 2013, at a redemption price of $5.2717 per equity share. The redemption price is equal to the net asset value per equity share on the redemption date, May 16, 2013.
Complete details regarding the 2013 Special Redemption Right were outlined in the joint management proxy circular dated March 8, 2013 and sent to shareholders of record on March 8, 2013, and the press release dated April 23, 2013. The joint management proxy circular and the press release are also available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Front Street Capital