Brompton Split Banc Corp. Announces Independent Recommendation in Favour of Proposed Extension
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/15/12 -- (TSX: SBC)(TSX: SBC.PR.A) ("SBC") is pleased to announce that ISS Proxy Advisory Services ("ISS"), a leading provider of proxy advisory services, supports extension of the term of SBC.
In making its recommendation, ISS concluded "The proposed re-organization will extend the life of the fund, which should allow shareholders to continue to maintain their investments and potentially defer capital gains tax liabilities that may have been incurred. Shareholder rights are also protected from downside risk of this extension due to the special retraction rights that have been granted if they choose not to participate in the re-organization. In light of these rights and the relatively modest costs that are expected to be incurred to implement the re-organization, shareholder support for this transaction is warranted."
SBC previously announced that it will be holding a shareholder meeting on March 29, 2012 to consider and vote upon a special resolution to extend the term of SBC. Full details including the benefits of the extension are contained in the management information circular which was mailed to all SBC shareholders earlier this month together with a voting instruction form. Holders are requested to submit their vote at their earliest convenience and prior to the proxy deadline of March 27, 2012.
Permission to quote from the ISS report dated March 13, 2012 was neither sought nor obtained.
About Brompton Funds
Brompton Funds, a division of Brompton Group, is a leading and experienced closed-end fund manager. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms and supported by strong corporate governance. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-9051, (toll-free at 1-866-642-6001) email or visit our website at .
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 Funds, to the future outlook of the Funds and anticipated events or results and may include statements regarding the future financial performance of the Funds. 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.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the fund's publicly filed documents which are available from SEDAR at . Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Contacts:
Brompton Funds
Investor Relations
416-642-9051 or toll-free: 1-866-642-6001
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Datum: 15.03.2012 - 15:17 Uhr
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News-ID 125312
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