TORONTO, CANADA — (Marketwire) — 08/15/11 — Third Canadian General Investment Trust Limited-s (Third Canadian) (TSX: THD) net asset value per share (NAV) returns, with dividends reinvested, for the three and six months ended June 30, 2011 were -7.8% and -4.9%, respectively. By comparison, the returns of the benchmark S&P/TSX Composite Index, on a total return basis, for the same periods were -5.1% and 0.2%. Third Canadian-s market return for shareholders was -2.2% for the second quarter and -2.1% for the six months.
Net asset value at June 30, 2011 was $202,152,000, a decrease of 5.2% from the 2010 year-end value of $213,314,000. This decrease can be largely attributed to the six-month market value return of -5.7% in its principal asset segment, consisting of its holdings in Canadian General Investments, Limited and Canadian World Fund Limited. The corresponding net asset values per share at June 30, 2011 and December 31, 2010 were $42.06 and $44.39, respectively.
During each of the first two quarters of both 2011 and 2010, Third Canadian paid regular dividends of $0.075 per share.
Subsequent to quarter end, the Company announced that it had entered into a definitive acquisition agreement providing for privatization of Third Canadian with a shareholder meeting scheduled for September 30, 2011. Please see press release dated July 29, 2011 for further details.
Third Canadian, established in 1928, is the second oldest North American listed closed-end fund. The Company-s non-principal assets consist of a diverse range of Canadian and foreign securities.
Contacts:
Third Canadian General Investment Trust Limited
Jonathan A. Morgan
President & CEO
(416) 366-2931
(416) 366-2729 (FAX)