VANCOUVER, Dec. 17 /PRNewswire-FirstCall/ -- WesternOne Equity Income Fund ("WesternOne Equity") (TSX: WEQ.UN and WEQ.DB) today announced that its Board of Trustees has approved a cash distribution of $0.05 per trust unit for the period from December 1, 2008 to December 31, 2008 (equivalent to $0.60 per trust unit on an annualized basis). This distribution will be paid on January 15, 2009 to unitholders of record at the close of business on December 31, 2008.
The policy of WesternOne Equity is to pay cash distributions on or about the 15th day of each month to unitholders of record on the last business day of the preceding month.
In addition, WesternOne Equity announced that on October 30, 2008, 38,964 trust units were issued at $4.20 per trust unit, in connection with the conversion of $159,000 in Series A Debentures (plus accrued interest), pursuant to the Series A Debentures conversion rights described in WesternOne Equity's Prospectus dated July 31, 2006.
Finally, WesternOne Equity announced that on November 26, 2008, 49,340 trust units were issued at $4.20 per trust unit, in connection with the conversion of $200,000 in Series A Debentures (plus accrued interest), pursuant to the Series A Debentures conversion rights described in WesternOne Equity's Prospectus dated July 31, 2006.
About WesternOne Equity -----------------------
WesternOne Equity seeks to acquire equipment and infrastructure related businesses located primarily in the Western Canadian provinces of British Columbia, Alberta and Saskatchewan, in order to generate stable and growing distributions to its unitholders as well as to achieve overall capital appreciation.
Additional information about WesternOne Equity is available at http://www.weq.ca/ or http://www.sedar.com/
THE TSX EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
