ASTON HILL ASSET MANAGEMENT INC. ANNOUNCES SECURITYHOLDER APPROVAL FOR THE CONVERSION OF ASTON HILL CAPITAL GROWTH FUND TO A MUTUAL FUND

TORONTO, April 21 /CNW/ - Aston Hill Asset Management Inc. (the "Manager"), as the manager of Aston Hill Capital Growth Fund (the "Fund", formerly called Tax Optimized Return Oriented Securities Trust) (TSX: TO.UN, TO.A), today announced that securityholders of the Fund have approved converting the Fund to a public mutual fund (the "Conversion").

Elements of the Conversion include the following:

  • Changing the investment mandate and fee structure of the Fund
  • Delisting the Fund's securities from the Toronto Stock Exchange (the "TSX")
  • Renaming the Return of Capital Securities as Class A Units
  • Exchanging the Income Securities for Class A Units
  • Permitting daily redemptions of Class A Units at their net asset value per unit.

Additional information concerning the Conversion is contained in the Fund's information circular dated March 23, 2011.

It is currently expected that the last day of trading over the TSX in securities of the Fund will take place on May 3, 2011 and that the Conversion will be completed shortly thereafter with Class A Units of the Fund becoming redeemable on May 9, 2011.

SOURCE ASTON HILL CAPITAL GROWTH FUND

For further information:

Michael J. Killeen
President
Aston Hill Asset Management Inc.
(416) 362-5597
            Jeffrey J. Burchell
Vice-President and Portfolio Manager
Aston Hill Asset Management Inc.
(416) 640-5680

 

 

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ASTON HILL CAPITAL GROWTH FUND

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