Strathbridge Asset Management Inc. has announced:
that the Board of Directors of the Manager (in the case of all Funds other than Premium Income Corporation, S Split Corp. and World Financial Split Corp.) and the Board of Directors of each of Premium Income Corporation, S Split Corp. and World Financial Split Corp. have approved a proposal to change the investment restrictions and/or the investment strategy of the Funds.
The purpose of the proposal is to permit the Manager to have greater flexibility in managing each Fund’s portfolio securities and includes (i) increasing the extent to which the Fund may invest in certain portfolio securities (known as the basket) to enhance returns beyond the Fund’s core portfolio holdings, (ii) enabling the Fund to invest in other investment funds to assist in achieving its investment objectives in an efficient manner, (iii) enabling the Fund to invest up to 10% of its net assets to purchase call options on securities in which it is permitted to invest and (iv) enabling the Manager to invest portfolio assets entirely in cash or cash equivalents in its discretion for defensive or other purposes. While some of the Funds currently have the authority to implement one or more of these strategies, the Manager would like all of its Funds to be able to employ such strategies as and when needed for the benefit of its securityholders.
A special meeting of securityholders of the Funds has been called to consider and vote upon the proposal. Further details of the proposal will be outlined in a joint management information circular to be prepared and delivered to securityholders of record of each of the Funds on November 21, 2014.
For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.
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PIC.PR.A, SBN.PR.A, TXT.PR.A & WFS.PR.A Holders To Vote On Mandates
Strathbridge Asset Management Inc. has announced:
This entry was posted on Monday, November 17th, 2014 at 6:51 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.