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Press Release
Toronto, December 15, 2000: Digital World Trust [DWT.UN] has declared a year end income distribution of C$0.75 per Unit payable December 29, 2000 to holders of record on such date. The special distribution will ensure that the Trust distributes sufficient of its net income and net realized capital gains for 2000 so that it will not be liable for tax. The amount of the distribution may therefore be subject to minor adjustment. The total distribution for Unitholders for the year ending December 31, 2000 should therefore be $2.35 per Unit (for a period from inception of approximately 10 months) equivalent to a 15.6% distribution yield on the original issue price of $15.00. The Trust intends to achieve its investment objectives by investing in a diversified portfolio of Common Shares issued by leading digitally based companies. These companies are either listed on a major N.A. stock exchange or quoted on NASDAQ with a market capitalization in excess of US$5.0 billion. They must operate within the sectors of Telecommunication Services, Telecommunication Equipment Suppliers, Enabling Hardware and Software, and Related Digital Commerce, Services and Products, the "Digital World Universe". To generate additional returns above the dividend income earned on the portfolio, the Trust will, from time to time, write covered call options in respect of all or part of the securities in its portfolio. In addition, the Trust may write cash covered put options in respect of securities in which it is permitted to invest. Unitholders of Digital World Trust may elect to have their distributions re-invested into additional Units by enrolling in the TrustŐs Distribution Reinvestment Plan. In order to take advantage of distribution reinvestment, Unitholders should contact their broker or the Plan Agent (Montreal Trust Company of Canada) as soon as possible to enroll in the plan. The TrustŐs investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. Trust Units are listed on The Toronto Stock Exchange under the symbol DWT.UN. Distribution Details:
Digital World Trust |
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