Foremost Income Fund Reports Q3 2015 Results
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 11/12/15 -- Foremost Income Fund ("Foremost" or the "Fund") announces the financial results for the three and nine months ended September 30, 2015.
OVERVIEW
The Fund is an unincorporated open end mutual fund trust conducting its business through two operating segments, Foremost Energy Equipment ("FEE") and Foremost Mobile Equipment ("FME"). FEE's overall business is focused on the oil and gas industry and includes activity from six manufacturing sites throughout Alberta. FME manufactures off-highway large wheeled and tracked vehicles, hydrovac and vacuum trucks, equipment for custom drilling, construction, water wells, and mining sectors. FME has three manufacturing facilities located in Alberta.
Highlights from Q3 2015:
Highlights for Year-to-Date 2015:
TRUST UNIT REDEMPTIONS AND DISTRIBUTIONS
The Fund redeemed 78,996 Trust Units during the nine months ended September 30, 2015 through its normal redemption program resulting in cash payments of $400,000 and promissory notes payable equal to $92,737. During 2014 the Fund redeemed 87,650 Trust Units for $200,103 and promissory notes of $424,589.
The Trustees have determined that, as of November 12, 2015, the Fund will redeem tendered Trust Units at a price of $5.80 per unit.
On behalf of the Trustees
Foremost Income Fund
Bevan May, Trustee
FORWARD-LOOKING STATEMENT
Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements use words such as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements include statements the Fund's intention to proceed with a Unitholders' meeting and information regarding the Trustees' views of the future prospects and tax treatment of the Fund and tax treatment of the Special Redemption, the Fund's expectations regarding the future availability of cash to meet redemption requests and the Trustee's expectations for redemption prices in December 2011 and January 2012. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties, including: the impact of general economic conditions, industry conditions, changes in laws and regulations, increased competition, fluctuations in commodity prices and foreign exchange, and interest rates and stock market volatility.
Contacts:
Investor Relations
Jackie Schenn, CA
(403) 295-5800 or toll free 1-800-661-9190 (Canada/US)
(403) 295-5832 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 12.11.2015 - 22:19 Uhr
Sprache: Deutsch
News-ID 434315
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
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