Learning Centre
EIT.UN Annual Voluntary Cash Redemption (July 2011)
Thursday, July 14, 2011
EnerVest Diversified Income Trust (the “Fund”) introduced the annual capped redemption in 2009 as part of the Value Enhancement Plan to provide unitholders of the Fund with additional liquidity at price levels which should be higher than the market price of their units. The Fund offers unitholders the option to redeem up to 10% of the aggregate outstanding units of the Fund. If redemption requests exceed 10% of the aggregate outstanding units of the Fund, the Fund will process redemptions to this maximum on a pro rata basis based on the amount tendered.
Unitholders wishing to redeem their units must provide notice of their intent to do so and are advised to contact their investment advisor or brokerage office to submit a redemption request to the Fund's transfer agent, Alliance Trust Company, via the Canadian Depository for Securities. If unitholders are registered holders (via a physical share certificate in their name) they are advised to contact Alliance Trust Company directly at 1(403) 237-6111 to redeem their units.
The Fund has committed to holding a redemption once per calendar year, however each redemption date cannot be less than six months nor more than eighteen months from the previous redemption date. For further information please contact us at 1-877-434-2796. Note that units that have been tendered and accepted for redemption will remain eligible for the distribution.
Highlights of the Redemption
- Provide Unitholders with additional liquidity
- Redeem up to 10% of the aggregate outstanding units of the Fund
- Tendered units still eligible for distribution