TORONTO, ONTARIO, Nov 06 (MARKET WIRE) --
Brompton VIP Income Fund (TSX: VIP.UN) is pleased to announce that it has
filed a final prospectus for an offering of warrants to unitholders of
the Fund. Each unitholder of record on November 16, 2009 will receive
one-third of a warrant for each unit held.
One warrant will entitle the holder to purchase a unit upon payment of
the subscription price. The subscription price will be $8.33, which is
equal to the sum of the most recently calculated NAV per unit prior to
the date of filing the final prospectus and the estimated per unit fees
and expenses of the offering. Warrants may be exercised on or before
April 15, 2010, the expiry date. The Fund has applied to list the
warrants (under the ticker symbol VIP.WT.A) and the units issuable on the
exercise thereof on the TSX. Warrants will be distributed to client
accounts on a best-efforts basis after the November 16 record date.
Successful completion of the warrants offering will provide the Fund with
additional capital that can be used to take advantage of attractive
investment opportunities, and it is also expected to increase the trading
liquidity of the units and reduce the ongoing management expense ratio of
the Fund.
For further information, please contact your financial advisor, call
Brompton's investor relations line at 416-642-9051 (toll-free at
1-866-642-6001), or visit our website at www.bromptongroup.com.
Commissions, trailing commissions, management fees and expenses all may
be associated with investment funds. Please read the Fund's publicly
filed documents which are available from SEDAR at www.sedar.com.
Investment funds are not guaranteed; their values change frequently and
past performance may not be repeated.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian securities
laws. Forward-looking information may relate to matters disclosed in this
press release and to other matters identified in public filings relating
to the Fund, to the future outlook of the Fund and anticipated events or
results and may include statements regarding the future financial
performance of the Fund. In some cases, forward-looking information can
be identified by terms such as "may", "will", "should", "expect", "plan",
"anticipate", "believe", "intend", "estimate", "predict", "potential",
"continue" or other similar expressions concerning matters that are not
historical facts. Actual results may vary from such forward-looking
information.
Forward-looking statements in this press release include among other
things, the opinion of the portfolio manager. While we consider these
assumptions to be reasonable based on information currently available to
the portfolio manager, they may prove to be incorrect. There are no
assurances that the actual outcomes will match the forward-looking
statements as a result of a number of risks and uncertainties that could
cause actual results to differ materially from what we currently expect.
Other than as required under securities laws, we do not undertake to
update this information at any particular time.
Contacts:
Brompton Funds Management Limited
David E. Roode
Senior Vice President
(416) 642-6008
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