Press Release
Declares Monthly Distribution
(For Release 4 p.m. EDT, June 19, 2001)
Toronto, June 19, 2001: Pro-AMS U.S. Trust [PAM.UN] has declared its regular monthly distribution of C$0.1875 per Unit payable June 29, 2001 to holders of record on such date.
Pro-AMS U.S. Trust was launched in October 2000 to provide
Unitholders with a stable stream of monthly distributions of at least
$0.1875 per Unit. In order to achieve the monthly distribution and preservation
objectives, approximately 40% of the net proceeds of the Trust have been
invested in a diversified portfolio (known as the Managed Portfolio) consisting
principally of equity securities of companies with a market capitalization
in excess of US$5.0 billion selected from the S&P 500 Index.
To provide the Trust with the means to return the original issue price
of the Units on or about the Termination Date, the Trust has entered into
a forward purchase and sale agreement with Royal Bank of Canada pursuant
to which RBC will agree to pay to the Trust an amount equal to $25.00
for each Unit outstanding on the Termination Date in exchange for the
Trust agreeing to deliver to RBC equity securities which the Trust has
acquired with approximately 60% of the net proceeds of the offering (known
as the Fixed Portfolio).
The Trust may, from time to time, write covered call options
in respect of all or part of the securities in the Managed Portfolio.
In addition, the Trust may write cash covered put options in respect of
securities in which the Trust is permitted to invest.
The Trust’s investment portfolio is managed by its investment manager,
Mulvihill Capital Management Inc. Trust Units are listed on The Toronto
Stock Exchange under the symbol PAM.UN.
Distribution Detail:
| Distribution per Unit: |
$0.1875
|
| Payable Date: |
June
29 , 2001
|
| Record Date: |
June
29 , 2001
|
| Ex-Dividend Date: |
June
27 , 2001
|
For more information
please contact:
John Mulvihill, Chairman & CEO, Mulvihill Capital Management
Don Biggs, Vice President, Mulvihill Capital Management
Pro-AMS U.S. Income
Trust
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966 (800) 725-7172
premium@mulvihill.com
www.mulvihill.com
