TSX Symbol: CIX.UN
TORONTO, Dec. 17 /CNW/ - CI Financial Income Fund ("CI" or the "Fund")
today announced that its transfer agent Computershare is in receipt of proxies
representing more than 68% of outstanding Fund units and almost 88% of Limited
Partnership Units to be voted at the Special Meeting to be held on Friday,
December 19, 2008, concerning its proposals to convert the Fund to a
corporation and to adopt a Unitholder Rights Plan. More than 95% of the
proxies submitted are voted in favour of these proposals.
"We appreciate the support of CI's unitholders for this vitally important
change," said William T. Holland, Chief Executive Officer. "As a corporation,
CI will be better positioned for growth and for taking advantage of
acquisition opportunities. The company's future will no longer be affected by
the uncertainties of the income trust market and the severe limits to growth
that have been imposed on trusts."
The Special Meeting of unitholders will be held on Friday at 10:00 a.m.
in Toronto to consider the proposals. Implementation of the conversion is
subject to Court approval and, assuming receipt of the necessary approvals,
will occur on January 1, 2009.
CI Financial Income Fund (TSX: CIX.UN) is an independent, Canadian-owned
wealth management company with approximately $78.9 billion in fee-earning
assets as of November 30, 2008. CI offers a broad range of investment products
and services, including an industry-leading selection of investment funds, and
is on the Web at www.ci.com/cix.
This press release contains forward-looking statements with respect to CI
and its products and services, including its business operations and strategy
and financial performance and condition. Although management believes that the
expectations reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties. Actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from expectations
include, among other things, general economic and market factors, including
interest rates, business competition, changes in government regulations or in
tax laws, and other factors discussed in materials filed with applicable
securities regulatory authorities from time to time.
For further information: William T. Holland, Chief Executive Officer,
(416) 364-1145
