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NEW FLYER INDUSTRIES INC. AND NEW FLYER INDUSTRIES CANADA ULC ANNOUNCE DECEMBER CASH DISTRIBUTION
Winnipeg, Manitoba, Canada − December 9, 2009 − (TSX:NFI.UN) New Flyer Industries Inc.
(“NFI”) and New Flyer Industries Canada ULC (“NFI ULC”) (together, “New Flyer”) today
announced that the fifty-second consecutive monthly cash distribution on the income deposit
security (“IDS”) of New Flyer in the amount of $0.0975 will be payable on January 15, 2010, to
holders of record of IDSs at the close of business on December 31, 2009. The IDSs trade on
the Toronto Stock Exchange under the symbol NFI.UN.
Each IDS consists of one common share of NFI (a “common share”) and C$5.53 principal
amount of 14% subordinated notes of NFI ULC (the “subordinated notes”), an indirect subsidiary
of NFI. The total distribution of C$0.0975 per IDS reflects a cash dividend of C$0.03298 per
common share and an interest payment of C$0.06452 per C$5.53 principal amount of
subordinated notes for the period from December 1, 2009 to December 31, 2009.
All dividends paid by NFI to Canadian residents on the common shares after December 31,
2005 are designated as “eligible dividends” for purposes of the enhanced dividend tax credit
rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial
tax legislation. In addition, unless stated otherwise, all dividends paid by NFI hereafter on the
common shares are designated as “eligible dividends” for the purpose of such rules.
New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and
Canada and a leading provider of aftermarket services. New Flyer has the broadest range of
products in the heavy-duty transit bus industry and provides its products and services to the
majority of the largest transit authorities in North America.
Forward-Looking Statements
This press release may contain forward-looking statements relating to expected future events
and financial and operating results of NFI and NFI ULC that involve risks and uncertainties.
Actual results may differ materially from management expectations as projected in such
forward-looking statements for a variety of reasons, including market and general economic
conditions, the covenants contained in NFI ULC’s senior credit facility and subordinated note
indenture and the other risks and uncertainties detailed in the disclosure documents filed with
the Canadian securities regulatory authorities. Due to the potential impact of these factors, NFI
and NFI ULC disclaim any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, unless required
by applicable law.
For further information, please contact:
New Flyer Industries Inc.
Glenn Asham, Chief Financial Officer
Tel: 204-224-1251
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