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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Trez Capital Mortgage Investment Corp    TZZ   CA89532L1031

TREZ CAPITAL MORTGAGE INVESTMENT CORP (TZZ)
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Trez Capital Mortgage Investment : Announces Special Distribution

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11/11/2017 | 01:01am CEST

TORONTO, Nov. 10, 2017 /CNW/ - Trez Capital Mortgage Investment Corporation (TSX:TZZ) (the "Company") announced today that its board of directors has declared a special distribution of $9,998,254 or $0.838 per Class A share of the Company (the "Special Distribution"). The Special Distribution, which constitutes a return of capital pursuant to the winding-up of the Company's business as approved by Shareholders on June 16, 2016, will be paid on December 11, 2017 to holders of Class A shares of record at the close of business on November 24, 2017. The Special Distribution is in addition to the Company's monthly distributions (also constituted as returns of capital), which the Company intends to continue until further notice. As of November 9, 2017, there were 11,931,091 Class A shares outstanding.

About the Company

The Company holds a diversified portfolio of mortgages in Canada. Trez Capital Fund Management Limited Partnership is the manager of and portfolio advisor to the Company. On June 16, 2016 the Shareholders of the Company approved the orderly wind-up of the Company. Under the orderly wind-up plan the Company will distribute the net proceeds through special distributions, the repurchase of shares pursuant to the normal course issuer bid, or otherwise. Since June 16, 2016 to date, 647,790 Class A Shares have been purchased for cancellation under the normal course issuer bid.

SOURCE Trez Capital

© Canada Newswire, source Canada Newswire English

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Managers
NameTitle
Alexander Manson President, Chief Executive Officer & Director
Gary M. Samuel Chairman
Clint Matthews Chief Financial Officer
Stephen M. Pustil Lead Independent Director
Stewart James Landers Robertson Independent Director
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