Toronto, February 09, 2009 – Brookfield Investment Funds Management Inc. (the “Manager”), as manager of Brascan SoundVest Rising Distribution Split Trust (TSX: BSD.UN and BSD.PR.A) (the “Trust”), announced today that the Toronto Stock Exchange has accepted its Notice of Intention to make a normal course issuer bid. The Trust will have the right under the bid to purchase for cancellation up to 284,127 of its Capital Units and 284,127 of its Preferred Securities (collectively, the “Shares”), representing 5% of the 5,682,543 Capital Units and 5,682,543 Preferred Securities issued and outstanding as at January 29, 2009.
In accordance with the Trust’s declaration of trust and trust indenture, any Capital Units purchased for cancellation will be accompanied by the Trust repurchasing an equal number of Preferred Securities, and vice versa. Purchases may commence on February 11, 2009, and will terminate on February 10, 2010. The Trust will not purchase in any given 30-day period, in the aggregate, more than 113,651 Capital Units and 113,651 Preferred Securities, being 2% of the issued and outstanding Preferred Securities and Capital Units as of the date hereof. Purchases made pursuant to the normal course issuer bid will be made in the open market through the facilities of the Toronto Stock Exchange. The price that the Trust will pay for any such Shares will be the market price of such Shares at the time of acquisition.
The Manager is of the opinion that Capital Units and Preferred Securities of the Trust may become available during the proposed purchase period at prices that would make such purchases in the best interests of the Trust and its securityholders. The Trust has not previously purchased its Capital Units or Preferred Securities under a normal course issuer bid.
Brascan SoundVest Funds are dedicated to providing high-quality investment funds to retail investors. These funds bring together innovative structures with top tier investment advisors to give investors access to tax-advantaged distributions while focusing on capital preservation and long-term total return. The investment advisor and portfolio manager for the Funds is Brookfield SoundVest Capital Management Ltd., which is 50% owned by Brookfield Asset Management Inc. Brookfield SoundVest is an established investment advisor, providing investment management services to pension funds, trusts, foundations and high net worth individuals.
For further information please visit our website at www.brookfieldfunds.com or contact:
Zev Korman
Director, Investor Relations and Communications - Public Funds
Tel: (416) 359-1955
Email: zkorman@brookfield.com
* * * * *
This news release may contain forward looking information. Actual future results may differ materially. The risks, uncertainties and other factors that could influence actual results are described in the Brascan SoundVest Rising Distribution Split Trust Fund prospectus and other documents filed with regulatory authorities.