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Faircourt Split Trust Announces Partial Redemption of Preferred Securities

TORONTO, ONTARIO -- (Marketwired) -- 06/10/14 --

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES.

Faircourt Asset Management Inc., the Manager of Faircourt Split Trust (TSX:FCS.UN) (TSX:FCS.PR.B), announces today that $10,044,660 in aggregate principal amount of the Trust's 6.25% outstanding Preferred Securities (the "Preferred Securities") will be redeemed on June 30, 2014 (the "Redemption Payment Date"). The record date of the Preferred Securities partial redemption is June 19, 2014.

Proceeds from the Preferred Securities redemption will amount to $10.00 for each $10.00 principal amount of Securities, being equal to the aggregate of (i) $10.00 (the "Redemption Price"), and (ii) all accrued and unpaid interest hereon to but excluding the Redemption Payment Date (collectively, the "Total Redemption Price"). As the quarterly interest payment will be paid as scheduled on June 30, 2014 there is no accrued and unpaid interest owing as of the Redemption Payment Date.

The interest upon the principal amount of Preferred Securities called for redemption shall cease to be payable from and after the Redemption Date, unless payment of the Total Redemption Price shall not be made on presentation for surrender of such Securities on or after the Redemption Date or prior to the setting aside of the Total Redemption Price pursuant to the Indenture.

Securities will be redeemed pro rata from each beneficial holder of Securities pursuant to the procedures of CDS Clearing and Depository Services Inc. Beneficial holders of Preferred Securities should contact their broker with any questions regarding the redemption.

Contacts:
Faircourt Funds
(416) 364-8989 or 1-800-831-0304
www.faircourtassetmgt.com

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