TORONTO, ONTARIO–(Marketwired – July 7, 2017) –
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Star Yield Managers Trust (TSX:XYM.UN) (the “Fund“) announced today that BMO Nesbitt Burns Inc. (the “Administrator“), the administrator of the Fund, has decided to terminate the Fund on September 19, 2017 or as soon as practicable after such date. The net asset value (“NAV“) of the Fund has been reduced as a result of redemptions of the Fund’s units (the “Units“) and the Administrator believes that it is no longer commercially feasible to continue the Fund and that it is in the best interests of unitholders of the Fund (“Unitholders“) to terminate the Fund.
In accordance with the Fund’s amended and restated declaration of trust, the Administrator may, in its discretion, on 60 days’ notice to Unitholders, terminate the Fund without the approval of Unitholders if, in the opinion of the Administrator, it is no longer commercially feasible to continue the Fund and/or it would be in the best interests of the Unitholders to terminate the Fund. Upon termination, following the conversion of the assets of the Fund to cash, and the satisfaction of, or provision for, all liabilities of the Fund, the net assets of the Fund will be distributed to Unitholders on a pro rata basis. Following such distribution, the Fund will terminate.
Further information about Star Yield Managers Trust can be found at www.bmocm.com/investorsolutions under “Investment Funds”.
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