Citadel Income Fund Announces Special Meeting of Unitholders to Vote on Amendments to Declaration of Trust
July 16 2012 - 12:15PM
PR Newswire (Canada)
TSX: CTF-UN.TO TORONTO, July 18, 2012 /CNW/ - Crown Hill Capital
Corporation, the manager and trustee of Citadel Income Fund (the
"Fund"), announces that they have called a special meeting of
holders (the "Unitholders") of units of the Fund (the "Units") for
August 7, 2012 at 8:30 a.m. (Toronto time) (the "Meeting"). The
purpose of the Meeting is to consider and, if thought appropriate,
approve amendments to the amended and restated declaration of trust
of the Fund amended and restated as of June 12, 2006, June 4, 2008,
June 6, 2008, September 26 2008, December 31, 2008, and December 2,
2009 and December 2, 2010 (the "Declaration of Trust") including
to: a) provide the right for Unitholders to voluntarily elect to
receive an unlimited cash redemption of their Units at 100% of the
net asset value per Unit less retraction costs including a fee per
Unit of 5% of the net asset value per Unit plus applicable taxes;
b) implement a series of minority unitholder protections including
a requirement that ordinary and extraordinary resolutions require
affirmative votes of 50% and 66 2/3% of Beneficial Holders (as such
term is defined in the Declaration of Trust) respectively other
than Beneficial Holders who are "Interested Parties" as defined in
the resolution attached as Appendix "A" to the management
information circular of the Fund dated July 4, 2012 (the
''Circular''); c) amend the provisions relating to the termination
and replacement of the manager of the Fund; d) remove certain
provisions which currently allow the trustee of the Fund to make
changes to the Declaration of Trust without Unitholder approval;
and e) make a number of other amendments to the Declaration of
Trust, all as further described in the resolution attached as
Appendix "A" to the Circular and in the form of amendment to the
Declaration of Trust attached thereto as Schedule 1. The record
date for the meeting was July 3, 2012. The Circular was
mailed to all Unitholders of record on July 17, 2012 and is also
available for review on the System for Electronic Document Analysis
and Retrieval (SEDAR). Unitholders are encouraged to refer to
the Circular for further information about the Meeting and the
matters to be voted upon. Beneficial holders of Units should
contact their financial advisors with respect to instructions on
how to vote at the Meeting. Certain statements contained in this
news release constitute forward-looking information within the
meaning of Canadian securities laws. Forward-looking information
may relate to matters disclosed in this press release and to other
matters identified in public filings relating to the Fund, to the
future outlook of the Fund and anticipated events or results and
may include statements regarding the future financial performance
of the Fund. In some cases, forward-looking information can be
identified by terms such as "may", "will", "should", "expect",
"plan", "anticipate", "believe", "intend", "estimate", "predict",
"potential", "continue" or other similar expressions concerning
matters that are not historical facts. Actual results may vary from
such forward-looking information. Citadel Income Fund
CONTACT: please contact the Investor Relations department at
416.361.9673ortoll-free at 1.877.261.9674.
Copyright
Citadel Income (TSX:CTF.UN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Citadel Income (TSX:CTF.UN)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Citadel Income Fund (Toronto Stock Exchange): 0 recent articles
More Citadel Income Fund News Articles