Central GoldTrust Responds to Misleading Statements by Polar Securities & Recommends That Unitholders REJECT the Polar Proposal
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/10/15 -- Central GoldTrust ("GoldTrust") (TSX: GTU.U)(TSX: GTU.UN)(NYSE MKT: GTU) (US$/C$/US$) today responded to the misleading statements made by Polar Securities Inc. ("Polar") in its press release dated April 9, 2015.
DON'T BE FOOLED - POLAR IS NOT ALIGNED WITH ALL GOLDTRUST UNITHOLDERS
POLAR'S PROPOSAL IS NOT THE ANSWER - AND THE CONSEQUENCES TO GOLDTRUST AND ITS UNITHOLDERS ARE REAL
GOLDTRUST'S CURRENT TRUSTEES ARE INDEPENDENT AND HIGHLY EXPERIENCED - POLAR'S NOMINEES ARE NEITHER
Bruce Heagle, Chair of the Special Committee of Independent Trustees, added: "GoldTrust's Trustees recognize that our Units are currently trading at a discount to NAV. We also recognize that they have traded at significant premiums to NAV in past markets of rising bullion prices. While we have no doubt that the adoption of Polar's proposal would be advantageous to Polar, the Trustees have a fiduciary obligation to represent the best interests of GoldTrust and ALL Unitholders. In that capacity, we do not believe that making costly and potentially punitive structural changes to GoldTrust to facilitate Polar's exit is in the best interests of GoldTrust and ALL Unitholders. Furthermore we believe that global currency and economic conditions favour the long-term outlook for improving gold prices, which is why we believe our Unitholders invest in GoldTrust."
The Board recommends that Unitholders REJECT Polar's self-serving proposal and vote FOR the Trustee nominees of GoldTrust.
Bennett Jones LLP is acting as legal counsel to the Special Committee of the Independent Trustees of GoldTrust, and CIBC World Markets Inc. is acting as financial advisor to GoldTrust.
Proxy Voting Instructions
Your vote is important, no matter how many Units you own - If you have not yet voted your WHITE proxy, please do so today by REJECTING Polar's self-serving proposal, voting AGAINST its resolution, DISREGARDING any proxy materials received from Polar and voting FOR the Trustee nominees of GoldTrust. We urge you to vote the WHITE proxy only, as your Trustees recommend. Even if you have already voted using the Polar proxy, you can change your vote by submitting a WHITE GoldTrust proxy now, which will revoke any previously submitted proxy and be counted at the Meeting.
Proxies must be received not later than 11:00 a.m. (Toronto time) on Wednesday, April 29, 2015. Due to the limited time available, we recommend voting by internet, telephone or fax today or not later than 24 hours before the deadline. For ease of voting visit our website or .
If you require assistance in casting your vote, or require replacement proxy materials, please call GoldTrust's proxy solicitation agent, D.F. King Canada, toll-free at 1-800-251-7519 or call collect 1-201-806-7301.
About Central GoldTrust
Central GoldTrust (established on April 28, 2003) is a passive, self-governing, single purpose trust, which invests primarily in long-term holdings of gold bullion and does not speculate in gold prices. At April 9, 2015, the Units were 99.0% invested in unencumbered, allocated and physically segregated gold bullion. Units may be purchased or sold on the Toronto Stock Exchange and NYSE MKT.
Forward-Looking Statements
Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties, including any impact of Polar's proposal. GoldTrust's actual results could differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those risks detailed in GoldTrust's filings with the Canadian securities regulatory authorities and the SEC.
Contacts:
D.F. King Canada
toll-free at 1-800-251-7519
call collect at 1-201-806-7301
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Datum: 10.04.2015 - 11:45 Uhr
Sprache: Deutsch
News-ID 384837
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TORONTO, ONTARIO
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Mining & Metals
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