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     427  0 Kommentare Silver Bullion Trust Points Out Flaws in Sprott's Misleading and Self-Serving Analysis; Reminds Unitholders Continue to Reject the Sprott Offer by Taking No Action

    TORONTO, ONTARIO--(Marketwired - Sept. 4, 2015) - Silver Bullion Trust ("SBT") (TSX:SBT.UN)(TSX:SBT.U) today responded to the press release issued by Sprott Asset Management LP and Sprott Physical Silver Trust (collectively, "Sprott") on September 3, 2015, in which Sprott continues to make misleading statements that are intended to divert your attention from the real issues regarding their hostile, self-serving offer to acquire all of the outstanding Units of SBT.

    Sprott's claim that SBT's expense ratio is higher than Sprott's over the last six and twelve months is solely the result of Sprott manipulating the analysis in order to mislead SBT Unitholders. Sprott's latest round of misleading analysis is based on taking a series of extraordinary costs associated with defending against both the Polar Securities proxy fight and Sprott's own hostile takeover-bid, and annualizing these extraordinary expenses and passing them off as permanent additions to SBT's annual expense ratio. Sprott's analysis represents a blatant and willful mischaracterization of SBT's expense ratio, which remains among the lowest in the industry. Excluding these extraordinary expenses, SBT's expense ratio was actually approximately 30%(1) lower than Sprott's, consistent with historical levels.

    Bruce Heagle, Chair of the Special Committee of Independent Trustees of SBT stated; "Despite Sprott's ongoing campaign of misinformation and misdirection, we expect that SBT Unitholders will continue to see the Sprott offer for what it really is - a self-serving fee grab by an organization that is desperate to replace management fees lost as a result of significant redemptions from its own unitholders, as well as significant losses of investor capital in other funds that Sprott manages. While Sprott makes unfounded claims that your Administrator and Trustees are protecting their positions, they fail to mention that your Administrator and Trustees charge Unitholders far less than what Sprott intends to charge if they are successful. Sprott's claims of governance superiority are wholly hypocritical, as they come from an organization with virtually no independent governance and no ability for unitholders to replace them as manager, regardless of their poor track record. Sprott is also now paying brokers to encourage their clients to tender to the Sprott offer - a clear indication that Sprott's offer and its purported "value" are not resonating with SBT Unitholders. The Trustees caution Unitholders regarding any advice or recommendations they may receive from their financial advisors or brokers, which may be biased and based on their desire to collect solicitation fees from Sprott. Sprott is paying your broker to convince you to tender. Don't be talked into tendering!

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    Silver Bullion Trust Points Out Flaws in Sprott's Misleading and Self-Serving Analysis; Reminds Unitholders Continue to Reject the Sprott Offer by Taking No Action TORONTO, ONTARIO--(Marketwired - Sept. 4, 2015) - Silver Bullion Trust ("SBT") (TSX:SBT.UN)(TSX:SBT.U) today responded to the press release issued by Sprott Asset Management LP and Sprott Physical Silver Trust (collectively, "Sprott") on September …

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