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Movie Distribution Fund completes sale
Thursday August 16th 2007TORONTO, Movie Distribution Income Fund (the "Fund")
(TSX: FLM.UN) today announced the completion of the previously announced sale of the Fund’s 49% indirect interest in Motion Picture Distribution LP
("MPDLP") to an acquisition company controlled by EdgeStone Capital Partners in which GS Capital Partners, an affiliate of Goldman, Sachs & Co., owns an equity interest.
It is the intention of the Fund to effect the redemption of all of its issued and outstanding units on Friday, August 17, 2007 for $10 per unit plus a proportionate distribution of distributable cash for the period August 1st through to but excluding August 15th of $0.043 per unit.
Following the redemption of the Fund’s issued and outstanding units, it is intended that the Fund will cease to be a reporting issuer and will be wound-up.
Since the units trade in the book-entry system, unitholders need not take any action with respect to the final redemption. Beneficial holders of units will be paid by their broker or other intermediary shortly following the redemption date.
In connection with the completion of the acquisition, effective at close of the markets on August 16, 2007, the Fund units will no longer be traded on the Toronto Stock Exchange.
Headline, Industry News
Movie Distribution Fund completes sale
Thursday August 16th 2007TORONTO, Movie Distribution Income Fund (the "Fund")
(TSX: FLM.UN) today announced the completion of the previously announced sale of the Fund’s 49% indirect interest in Motion Picture Distribution LP
("MPDLP") to an acquisition company controlled by EdgeStone Capital Partners in which GS Capital Partners, an affiliate of Goldman, Sachs & Co., owns an equity interest.
It is the intention of the Fund to effect the redemption of all of its issued and outstanding units on Friday, August 17, 2007 for $10 per unit plus a proportionate distribution of distributable cash for the period August 1st through to but excluding August 15th of $0.043 per unit.
Following the redemption of the Fund’s issued and outstanding units, it is intended that the Fund will cease to be a reporting issuer and will be wound-up.
Since the units trade in the book-entry system, unitholders need not take any action with respect to the final redemption. Beneficial holders of units will be paid by their broker or other intermediary shortly following the redemption date.
In connection with the completion of the acquisition, effective at close of the markets on August 16, 2007, the Fund units will no longer be traded on the Toronto Stock Exchange.
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Headline, Industry News
Movie Distribution Fund completes sale
Thursday August 16th 2007TORONTO, Movie Distribution Income Fund (the "Fund")
(TSX: FLM.UN) today announced the completion of the previously announced sale of the Fund’s 49% indirect interest in Motion Picture Distribution LP
("MPDLP") to an acquisition company controlled by EdgeStone Capital Partners in which GS Capital Partners, an affiliate of Goldman, Sachs & Co., owns an equity interest.
It is the intention of the Fund to effect the redemption of all of its issued and outstanding units on Friday, August 17, 2007 for $10 per unit plus a proportionate distribution of distributable cash for the period August 1st through to but excluding August 15th of $0.043 per unit.
Following the redemption of the Fund’s issued and outstanding units, it is intended that the Fund will cease to be a reporting issuer and will be wound-up.
Since the units trade in the book-entry system, unitholders need not take any action with respect to the final redemption. Beneficial holders of units will be paid by their broker or other intermediary shortly following the redemption date.
In connection with the completion of the acquisition, effective at close of the markets on August 16, 2007, the Fund units will no longer be traded on the Toronto Stock Exchange.
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