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Attention Business/Financial Editors
Faircourt Asset Management Inc. Announces Distribution for FCS.UN
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER
UNITED STATES WIRE SERVICES/
TORONTO, March 9 /CNW/ - Faircourt Asset Management Inc., as Manager of
Faircourt Split Trust (TSX: FCS.UN, FCS.PR.A) announces today that monthly
distributions on the Trust Units (TSX: FCS.UN) will be reinstated. The initial
annualized monthly distribution rate will be 4.7%, based on the March 9th
closing price of the Trust Units, or $0.02 per month per Trust Unit ($0.24 per
annum per Trust Unit). The Trust's ability to continue variable distributions
will depend on market conditions and the Trust's asset coverage levels and
will be evaluated on a monthly basis.
<<
Distribution
Trading Amount Ex-Dividend Record Payable
Faircourt Funds Symbol (per unit) Date Date Date
------------------------------------------------------------------------
Faircourt Split FCS.UN $0.02 March 29, March 31, April
Trust 2010 2010 8, 2010
>>
Distributions were suspended in October 2008 in accordance with the terms
of Trust Indenture governing the Preferred Securities which require the
maintenance of a minimum 1.4 times asset coverage by the Trust, dated March
16, 2006 for the Trust. This announcement does not affect the quarterly
distributions related to the Preferred Securities of the Trust (TSX:
FCS.PR.A).
Faircourt Split Trust is designed to provide levered exposure to a
portfolio comprised of Income Trusts, North American Dividend Paying Equities,
Convertible Debentures, as well as other income generating securities.
Faircourt Asset Management Inc. is the Investment Advisor for Faircourt
Split Trust
-30-
/For further information: on the Faircourt Funds, please visit
www.faircourtassetmgt.com or please contact: Charles Taerk, President and CEO
or Douglas Waterson, CFO and Portfolio Manager at (416) 364-8989 or
1-800-831-0304/
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