Income Financial Announces Mailing of Notice of Meeting and Management Information Circular
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 06/17/13 -- Income Financial today announced that the Notice of Special Meeting of Unitholders and Management Information Circular relating to the previously announced special meeting of the unitholders to be held at 11:00 a.m. (Eastern standard time) on July 10, 2013, has been mailed to the unitholders.
The primary purpose of the meeting is to consider and vote upon a special resolution that would allow unitholders to maintain their investment beyond the scheduled termination date of January 1, 2014. If the special resolution is approved, the termination date would initially be extended to January 1, 2019.
The reasons for the term extension proposal are as follows:
If the extension proposal is passed, Quadravest (the "Manager") will lower its annual management fee from 0.85% to 0.75% per annum of the net asset value of Income Financial. In addition, the discount to net asset value for the monthly redemption fee will be decreased from 4% to 2% and this reduced fee would be paid to the Manager. These measures are intended to lower ongoing expenses of Income Financial and improve trading prices relative to the net asset value of Income Financial.
The special resolution also allows the Manager to provide subsequent 5 year extension terms while continuing to provide all unitholders with the same retraction right entitlement at each extension date as they would have had if the term of Income Financial were not to be so extended.
The Manager of Income Financial has determined that the special resolution is in the best interests of Income Financial and its unitholders. Accordingly, the Manager recommends that unitholders vote FOR the special resolution. The Independent Review Committee of Income Financial has also unanimously determined that the calling and holding of the special meeting to consider the matters described in the Circular, on terms set forth in the Circular, achieves a fair and reasonable result for unitholders.
For full details, please review the Notice of Special Meeting of Unitholders and the Management Information Circular which is available on SEDAR and the Company's website at .
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Contacts:
Income Financial Trust
Investor Relations
416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)
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Datum: 17.06.2013 - 18:17 Uhr
Sprache: Deutsch
News-ID 270404
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TORONTO, ONTARIO
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Investment Opinion
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