EnerVest Diversified Income Trust Announces Annual Redemption Price
CALGARY, ALBERTA--(Marketwire - Oct. 8, 2009) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
EnerVest Diversified Income Trust ("EnerVest" or "the Fund") (TSX:EIT.UN) announces that all units accepted for the voluntary annual redemption will receive an approximate price of $12.77 per unit in Canadian dollars, subject to rounding. This price is equal to 95% of the average net asset value based on the three business days preceding the redemption date of October 7, 2009, less direct costs. Payment of the redemption proceeds will be made on or before October 16, 2009.
As previously announced on September 17, 2009 requests for redemption of approximately 33.2 million units were submitted by unitholders, representing approximately one third of the current issued and outstanding units. The Fund's Declaration of Trust caps the annual redemption at 10% of the issued and outstanding units. Accordingly, redemption requests were pro rated.
EnerVest Diversified Income Trust is Canada's largest and most liquid closed-end investment fund. Listed on the Toronto Stock Exchange under the symbol EIT.UN, the Fund is an actively managed diversified portfolio of income generating and capital growth securities, designed to maximize distributions and Net Asset Value for the benefit of its unitholders.
Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect EnerVest Management Ltd.'s and its affiliates (the "Administrator") current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Administrator believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Administrator undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.