Noranda Income Fund Unit T.NIF.UN

RE: RE: RE: RE: Year End Distribution / Unit Issue

[quest13]

The answer Birdie is that I do not know and I have not thought it through.

It stopped being meaningful, and worthy of further thought, once I discovered that we would not really get shares in our hands that we could sell or hold as the mood hit us.

I regard it as a perfect sham which obviously the lawyers advised could be done without really giving out units, and the taxman would accept it as a fiddle which met the rules for income distribution, and thus the fund would not be offside as far as the rules of income trusts went.

As per my reading whether they give us 1/100 unit or 1 /10 unit or 1 unit or 10 units for each unit we currently hold it will be consolidated so that we hold 1 new or consolidated unit which will be exactly the same number we had before the fiddle.

to say that I am not pleased is a great understatement; but I can do nothing about it.

Quest