Noranda Income Fund Unit T.NIF.UN

RE:RE:Noranda Income Fund Ordinary Unit Holder's (Glencore Canada)

[Tourist9394]

Tourist, are you saying that 12.5 million of Glencore's shares are not "Priority unit holder" shares, but will be convertible to "Priority unit holder" shares after May 2017, and that they then begin having the dividend paid on them making the dividend unsustainable at the current level?[/quote]

Not only that, the fund is obiligated to return past dividends to Glencore's shares once the fund produce excess profit.