T. Boone Pickens Energy Fund to be wound up
TORONTO, Jan. 28, 2013 /CNW/ – Today, BMO Nesbitt Burns Inc., the
administrator of the T. Boone Pickens Energy Fund (the “Fund”),
announced that it has decided to wind-up the Fund by March 15, 2013 or
as soon as practicable after such date.
The administrator has decided that given the current size of the Fund,
and the related expenses, it is in the best economic interests of the
unitholders for the Fund to be wound up.
Pursuant to the declaration of trust governing the Fund, the
administrator may, in its discretion, terminate the Fund without the
approval of unitholders if, in its opinion, it is no longer
economically feasible to continue the Fund and/or it would be in the
best interests of unitholders to terminate the Fund.
Prior to the date that the Fund will be wound up, the administrator will
convert the portfolio to cash to the extent practicable. Upon the
wind-up date, all property remaining after paying or providing for all
liabilities and obligations of the Fund will be distributed rateably
among the unitholders based on the net asset value (NAV) per unit of
the class held by the unitholders.
SOURCE T. Boone Pickens Energy Fund