ATS Andlauer Income Fund Declares Special Distributions in Addition to Regular December Distribution.TORONTO -- ATS Andlauer Income Fund (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :ATS.UN) (the "Fund")announced today its regular monthly cash distribution of $0.081 per trust unit for the month of December 2005. The distribution will be paid on January 13, 2006 to unitholders of record on December 31, 2005. The Fund also announced that the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. has approved, in addition to the above regular distribution, an estimated one time special cash distribution of $0.321 per trust unit and an estimated one time special non-cash distribution, in the form of trust units with an estimated value of $0.065 per trust unit, to be paid on March 31, 2006 to unitholders of record at the close of business on December 31, 2005. These trust units will be distributed on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis to unitholders of record on December 31, 2005 and will be included in unitholders' income for the 2005 calendar year. Immediately after this pro rata distribution of trust units, the number of outstanding trust units will be consolidated, such that each unitholder will hold, following the consolidation, the same number of trust units as before the non-cash distribution. The exact value of the special cash distribution and the exact value and number of trust units to be distributed pursuant to the special non-cash distribution will be based upon the aggregate taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. of the Fund for the fiscal year ended December 31, 2005, which is not yet complete. These special distributions are being made because available distributable cash estimated to be generated through the fourth quarter, historically the strongest operational quarter of the business, is expected to exceed regular distributions to be paid at the annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. rate of $0.081 per month. This excess is in part due to the historically strong fourth quarter coinciding with the Fund's short initial period of operations for income tax purposes (August to December 2005). The Fund is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. under its declaration of trust to distribute all taxable income earned within a calendar year. Because a portion of the special distributions approved is to be paid by way of trust units, the amount of income allocated to unitholders will exceed the amount of cash distributed. The Fund may be required to withhold certain amounts otherwise distributable to non-resident unitholders, and, to the extent that the withholding cannot be applied to cash distributions, the Fund may be required to withhold and sell trust units to satisfy such obligations. The Fund is an open-ended trust that holds, indirectly, securities of ATS Andlauer Transportation Services Limited Partnership ("ATS Andlauer LP"). ATS Andlauer LP is a leading single source transportation solutions provider in Canada, providing integrated trucking, courier, air freight air freight n → flete m por avión air freight n → fret aérien air freight air n → Luftfracht f and value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. transportation and distribution services to consumer product companies. It operates facilities in 23 centres across Canada and serves approximately 1,400 diversified customers. The Fund's units trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol ATS.UN. Additional information relating to the Fund, including all public filings, is available on www.sedar.com. ATS Andlauer Income Fund (TSX:ATS.UN) |
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