Press Release
Declares
Monthly Distribution
(For Release 4 p.m.
EDT, August 19, 2002)
Toronto, August 19, 2002: Mulvihill Pro-AMS RSP (the “Trust”) has declared its monthly distribution of C$0.1250 per Unit payable August 30, 2002 to holders of record on such date.
Mulvihill Pro-AMS RSP was launched in March 2001 with three investment objectives: (1) to provide unitholders of the Trust with monthly distributions, (2) to return at a minimum the original issue price of the units ($25.00) to unitholders upon termination of the Trust, and (3) to preserve the value of the Trust’s Managed Portfolio.
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 (“RBC”) pursuant to which RBC will agree to pay to the Trust an amount equal to C$25.00 for each Unit outstanding on the Termination Date in exchange for the Trust agreeing to deliver to RBC equity securities (known as the Fixed Portfolio).
The balance of the net proceeds have been invested in a diversified portfolio (known as the Managed Portfolio) consisting principally of equity securities of companies selected from the S&P/TSX 60 Index and of companies with a market capitalization in excess of US$5.0 billion selected from the S&P 500 Index.
The Trust may from time to time, write covered call options in respect of all or part of the securities in which the Trust is permitted to invest. 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 PR.UN.
Distribution Details
:
| Distribution per Unit: | $ 0.1250 | |
| Payable Date: | August 30, 2002 | |
| Record Date: | August 30, 2002 | |
| Ex-Dividend Date: | August 28, 2002 | |
For further
information, contact:
John Mulvihill, President & CEO
David Middleton, CFO
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
hybrid@mulvihill.com
