TORONTO, January 3, 2017 - Further to its announcement on October 28, 2016, First Asset Investment Management Inc. announces that Utility Split Trust (the "Fund") was terminated effective January 3, 2017. The Capital Units (TSX: UST.UN) and the Class B Preferred Securities (TSX: UST.PR.B) of the Fund were delisted from the Toronto Stock Exchange on December 30, 2016.
The Capital Units were redeemed for $16.8393 per Capital Unit on January 3, 2016 (the "Termination Date"). The Class B Preferred Securities were repaid $10.1313 per Class B Preferred Security, consisting of the original subscription price of $10 for each Class B Preferred Security together with any accrued and unpaid interest thereon payable on the Termination Date.
Proceeds will be paid to unitholders on or about January 6, 2017.
First Asset - Smart SolutionsTM
First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. Rooted in strong fundamentals, First Asset's smart solutions strive to deliver better risk-adjusted returns than the broad market, while helping investors achieve their personal financial goals.
For further information, please contact Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
TMFirst Asset and its logo are trademarks of First Asset Capital Corp., a wholly-owned subsidiary of CI Financial Corp. which is listed on the Toronto Stock Exchange under the symbol "CIX". ®CI FINANCIAL is a registered trademark of CI Investments Inc., used under license.
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