Eclipse Residential Mortgage Investment Corporation Announces Final Distribution of Assets to Shareholders
TORONTO, Sept. 25, 2019 (GLOBE NEWSWIRE) — Eclipse Residential Mortgage Investment Corporation (“Eclipse”) is pleased to announce that, in connection with (i) the sale of its mortgage portfolio to YTM Capital Mortgage Income Fund which closed on May 15, 2019; and (ii) the delisting of the common shares of the Corporation (the “Common Shares”) from the Toronto Stock Exchange which took place on May 23, 2019, Eclipse will be making its final distribution of the remaining net assets of Eclipse (the “Return of Capital”).
The first tranche of the Return of Capital, in the amount of $8.65 per Common Share, was paid on May 28, 2019 to shareholders of record at the close of business on May 23, 2019.The second and final tranche of the Return of Capital, in the amount of $1.03 per Common Share, will be paid on October 4, 2019 to shareholders of record on September 30, 2019. Shareholders are reminded that since inception in June 2013, Eclipse also paid total monthly distributions of $3.888 per share.As Eclipse is now in receipt of certain regulatory consents and deliverables required in respect of its previously announced voluntary dissolution (the “Dissolution”), Eclipse intends to voluntarily dissolve on or about October 7, 2019. Eclipse will cease to be a reporting issuer in connection with the Dissolution and will no longer hold its previously called shareholders’ meeting on December 27, 2019.About Brompton FundsBrompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton’s investment solutions include TSX traded closed-end funds and exchange-traded funds. For further information, please call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email email@example.com or visit our website at www.bromptongroup.com.Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to Eclipse, to the future outlook of Eclipse and anticipated events or results and includes statements regarding the Dissolution. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.