Business
Gamehost Income announces unit split, graduation to the Toronto Stock Exchange and increase to regular monthly distributions
Gamehost Income Fund (TSXV: GH.UN) RED DEER, AB, April 10 /CNW/ - Gamehost Income Fund ("Fund") i...
About this update from Gamehost Inc.
[{"type":"text","content":"\n\n\n\nGamehost Income Fund (TSXV: GH.UN)\n\n\nRED DEER, AB, April 10 /CNW/ - Gamehost Income Fund ("Fund") is pleased\nto report that it has received conditional approval from the Toronto Stock\nExchange ("TSX") to list trust units of the Fund on the TSX. Listing on TSX is\nsubject to meeting the requirements of the TSX. Prior to the listing of trust\nunits of the Fund on the TSX the Fund will split all classes of existing units\non a 3 for 1 basis. Trustees of the Fund have also approved a 10 percent\nincrease to regular monthly cash distributions of the Fund from $0.2000 per\nunit to $0.2199 per unit effective the April 2008 distribution period.\n\n\nCraig Thomas, CFO reports, "Heading into calendar 2008 the Fund was faced\nwith a number of risk factors that could not be fully assessed at the time.\nLingering uncertainty in commodity markets, new casino competition in the\nCalgary market place and a province wide smoking ban effective January 1, 2008\nall held potential for an adverse effect on operations. With Q1 2008 behind\nus, management now has a clearer picture of the impact of these factors and is\nconfident in the sustainability of higher regular cash distributions from the\nFund."\n\n\nThe Fund will affect a 3 for 1 unit split by issuing 2 additional units\nfor every 1 unit currently issued of all classes of units of the Fund. There\nare currently 3,591,051 issued and outstanding trust units of the Fund.\nImmediately following the split issued and outstanding trust units will total\n10,773,153. Post split valuation for the Fund's trust units will ultimately be\ndetermined by the market. Resulting valuations should, however, approximate\n1/3rd of the pre-split trading value. The Record Date and the Ex-Trading Date\nfor the split will be announced once they are known. It is anticipated that\nthe additional units will be issued and the resulting revaluation of units\nwill occur before the end of April 2008.\n\n\nOn April 2, 2008 the Fund received conditional approval from the TSX on\nits application for graduation from the TSX Venture Exchange ("TSXV") to the\nTSX. The Fund is currently in the process of forwarding documentation to\nsatisfy remaining requirements of the TSX. The TSX has confirmed that the\nFund's units will continue to trade under the symbol "GH.UN" onc...