Completion of Merger of Creststreet Alternative Energy Class into Creststreet Resource Class
TORONTO, November 26, 2012 – Creststreet Asset Management Limited (“Creststreet”) is pleased to announce that the merger of Creststreet Alternative Energy Class (“CAEF”) into Creststreet Resource Class (“CRF”) (the “Merger”) became effective on November 23, 2012. The Merger was approved by shareholders of each of CAEF and CRF at special meetings held on November 8, 2012.
In connection with the Merger, each shareholder of CAEF received Series A, Series B and/or Series F shares of CRF having the same aggregate net asset value as their respective shares of CAEF as of the close of business on November 23, 2012, as listed below:
- each Series A share of CAEF (CAM400) was converted to a Series A share of CRF (CAM100)
- with a conversion ratio of 10.2210911136;
- each Series B share of CAEF (CAM401) was converted to a Series B share of CRF (CAM151)
- with a conversion ratio of 9.4763353076; and
- each Series F share of CAEF (CAM402) was converted to a Series F share of CRF (CAM152) with a conversion ratio of 9.4632349152.
The Merger was completed in connection with the previously announced agreement between Creststreet and Brompton Funds Limited (“Brompton”) pursuant to which Brompton will acquire, among other things, the rights to provide management and administration and portfolio management services to CRF and Creststreet Dividend & Income Class on or about November 30, 2012.
All pre-authorized chequing plans that had been established with respect to CAEF will be re-established with CRF unless an investor advises otherwise. Investors may change or cancel any pre-authorized plan at any time.