Capital Structure

WesternOne Equity Income Fund is an open-ended mutual fund trust which provides monthly distributions to unit holders and to achieve overall capital appreciation. The capital of the Fund is used to make acquisitions of primarily privately-owned small and medium-sized businesses in British Columbia, Alberta and Saskatchewan. These businesses are primarily engaged in infrastructure development and construction, logistics and distribution, outsourcing, manufacturing, financial services, and other areas with the potential for strong growth.

Trust Units

WesternOne has 18,026,627 trust units outstanding as of November 30, 2011. The trust units are listed for trading on the Toronto Stock Exchange under the symbol WEQ.UN (click on the symbol WEQ.UN).

Unit holders of record who have purchased on the TSX are entitled to receive the monthly distribution. 

Convertible Debentures

WesternOne currently has two series of convertible debentures listed on the TSX.

Convertible Unsecured Subordinated Debentures (the "Unsecured Debentures")
The Unsecured Debentures are listed under the ticker symbol WEQ.DB.B. The Unsecured Debentures bear interest at an annual rate of 8.5% (payable semi-annually) and are convertible into trust units at a conversion price of $5.25 per unit. The Unsecured Debentures will mature on December 31, 2015 and are convertible into trust units at $5.25.

Extendible Convertible Unsecured Subordinated Debentures

The Series C Debentures (TSXV - WEQ.DB.C) were issued in June 2011 and bear interest at an annual rate of 8% per annum payable semi-annually in arrears on June 30 and December 31 of each year. The Debentures mature in December 2018 and are convertible into trust units at $7.50.

Senior Secured Convertible Debentures - Series A (the "Series A Debentures")
The Series A Debentures were listed under the ticker symbol WEQ.DB. The Series A Debentures bore interest at an annual rate of 9% (payable semi-annually) and were convertible into trust units at a conversion price of $4.20 per unit. The Series A Debentures were redeemed in full on June 17, 2011.