|
|
| TSX-Listed Funds |
| Pathfinder Convertible Debenture Fund |
|
|
|
|
|
| Monthly
Distributions |
| The Fund intends to
provide Unitholders with monthly cash distributions on a tax- advantaged basis,
initially targeted to be $0.065 per Unit per month, representing a yield of
6.5% per annum on the original issue price of a Unit,or approximately 9.3% per
annum on a pre-tax income equivalent basis, assuming Unitholders are subject to
a 46.4%marginal tax rate. Such distributions will be payable to Unitholders of
record on the last day of each month and will be paid on or before the last
business day of the first month following each such month. |
| |
| Distribution Reinvestment Plan |
| Subject to obtaining
any required regulatory approvals,the Fund intends to provide Unitholders with
the opportunity to elect to reinvest monthly cash distributions made by the
Fund in additional Units and to purchase additional Units for cash through
participation in the distribution reinvestment plan of the Fund. |
| |
| Liquidity |
| TSX Listing: The Fund's
units can be bought and sold on the TSX under the symbol PCD.A |
|
| Mandatory Market
Purchase Program. To enhance liquidity and provide market support for the
units, the Fund will be required, subject to certain limitations and
exceptions, to purchase Units offered in the market if, at any time following
the closing of this Offering, the price at which Units are offered in the
market is less than 95% of the NAV per Unit as at the close of business in
Toronto, Ontario on the immediately preceding business day. In addition, the
Fund will have the right, but not the obligation, to purchase Units in the
market at its sole discretion, subject to applicable regulatory requirements
and limitations. See the Fund's prospectus for details. |
|
| Redemptions: Commencing
in 2011, subject to the Fund's right to suspend redemptions in certain
circumstances, Units may be surrendered for redemption in each year during the
period from and including the first business day in April until 5:00 p.m.
(Toronto time) on April 15 in each year in order for the Units to be redeemed
on May 31 of such year. Each Unit properly surrendered for redemption by a
Unitholder during the Notice Period will be redeemed at the Annual Redemption
Price. A Unitholder who properly surrenders Units for redemption will receive
payment on or before the 15th business day following the Annual Redemption
Date. |
| |
| Eligibility For Investment |
| The Fund's units are
considered Canadian property for RRSPs, RRIFs, DPSPs and RESPs. |
|
|
|
|
