BROMPTON COMPLETES MERGER OF GOLDMAN SACHS U.S. INCOME BUILDER TRUST WITH SYMPHONY FLOATING RATE SENIOR LOAN FUND
Toronto, February 8, 2018 – (TSX: GSB.UN, SSF.UN) – Brompton Funds Limited is pleased to announce the completion of the merger (the “Merger”) of Goldman Sachs U.S. Income Builder Trust (“GSB”) into Symphony Floating Rate Senior Loan Fund (“SSF” and, together with GSB, the “Funds”), effective February 8, 2018. The Merger was approved at a special meeting of unitholders of GSB held on December 13, 2017.
The Merger was implemented using exchange ratios calculated based on the relative net asset value (“NAV”) per class A unit or class U unit of each of GSB and SSF, each determined as at the close of business on February 6, 2018. The table below provides the NAV per class A and class U unit for each of the Funds and the exchange ratio at such time.
|Class A Units||Class U Units|
|GSB NAV per class A unit||$8.2362||GSB NAV per class U unit||USD$8.0508|
|SSF NAV per class A unit||$8.8876||SSF NAV per class U unit||USD$8.5896|
|Exchange Ratio||0.926707||Exchange Ratio||0.937273|
Unitholders of GSB are not required to take any action in order to be recognized as unitholders of SSF. Class A units of SSF issued to former holders of class A units of GSB pursuant to the Merger will continue to trade on the Toronto Stock Exchange under the symbol SSF.UN.