Le Lézard
Classified in: Business
Subjects: MISCELLANEOUS, MISCELLANEOUS

FAIRCOURT SPLIT TRUST TO BE WOUND UP


Toronto, ON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Faircourt Asset Management Inc., as manager and trustee (the "Manager" or the "Trustee", as applicable) of Faircourt Split Trust (NEO: FCS.UN) (the "Fund"), has decided to terminate the Fund on November 30, 2023 or as soon as practicable after such date. Given the limited liquidity of the Fund's units from over a decade of annual redemptions, the Manager believes that it is in the best interests of unitholders of the Fund ("Unitholders") to terminate the Fund.

In accordance with the Fund's second amended and restated declaration of trust, the Manager may, in its discretion, terminate the Fund without the approval of Unitholders if, in its opinion, it would be in the best interests of the Unitholders. In connection with the termination, following the conversion of the assets of the Fund to cash, and after paying, retiring or providing for the payment of all known liabilities and obligations of the Fund, and providing for indemnity against any other outstanding liabilities and obligations of the Fund the Trustee will divide the proceeds of sale among the Unitholders on a pro rata basis. Any securities or other property of the Fund the liquidation of which is not practicable or not appropriate prior to the termination date, will be distributed to Unitholders in specie, subject to compliance with any securities or other laws applicable to such distributions. Following such distributions, the Fund will terminate.

For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or please contact 1-800-831-0304.



These press releases may also interest you

at 21:38
Lucas GC Limited (the "Company" or "Lucas"), an artificial intelligence (AI) technology-driven online agent-centric human capital management service provider focused initially on targeting professionals based on Platform-as-a-Service, or PaaS, in the...

at 21:37
Private markets asset management firm Hamilton Lane Incorporated ("Hamilton Lane") today announced the pricing of an underwritten public offering by Hamilton Lane and a selling stockholder of 1,922,322 shares of Class A common stock, in the...

at 21:10
Pomerantz LLP is investigating claims on behalf of investors of  ADTRAN Holdings, Inc. ("Adtran" or the "Company") .   Such investors are advised to contact Robert S. Willoughby at  [email protected] or 888-476-6529, ext. 7980....

at 21:00
MODIFI, a leading global B2B Buy-Now-Pay-Later provider, has earned a spot on the prestigious Financial Times list of Europe's fastest growing companies of 2024. The company offers innovative solutions that allows exporters in emerging markets to...

at 20:53
LONGi, the world's leading Solar technology company, and Ferroglobe PLC, a world leading producer of Silicon Metal and Ferroalloys, are pleased to announce that they have entered into a long-term supply agreement effective January 1, 2024. This...

at 20:50
TSX VENTURE COMPANIES None today. 24/03/04 - TSX Venture Exchange Bulletins TSX VENTURE COMPANIES BULLETIN V2024-0672 ARANJIN RESOURCES LTD. ("ARJN")BULLETIN TYPE:  Property-Asset or Share Purchase AgreementBULLETIN DATE:  March 4, 2024TSX Venture...



News published on and distributed by: