TORONTO, Feb. 13, 2012 /CNW/ - Claymore Investments, Inc. ("Claymore"), the manager of various exchange-traded funds and closed-end funds (collectively, the "Claymore Funds"), today announced that Institutional Shareholder Services Inc. ("ISS") has recommended that Claymore Fund securityholders vote FOR the proposed acquisition of Claymore by BlackRock, Inc. (the "Acquisition").
ISS summarized its recommendation as follows: "Vote FOR since
securityholders will be substantially unaffected by the change in
manager and no significant corporate governance concerns are
The Advisory Board of each Claymore Fund organized as a trust and the
independent members of the Board of Directors of the Claymore Fund
organized as a corporation have also recommended that securityholders
vote in favour of the Acquisition.
Meetings to seek securityholder approval of the Acquisition are
scheduled for 8:30 a.m. (Toronto time) on February 24, 2012.
Securityholders are strongly encouraged to vote well in advance of the
February 22, 2012 deadline for the deposit of proxies. Securityholders
are urged to vote today by telephone or over the Internet at www.proxyvote.com using the control number found on their Voting Instruction Form.
The management information circular of the Claymore Funds, which
provides a detailed discussion of the Acquisition, is available on the
Claymore Funds' website at http://www.claymoreinvestments.ca/docs/default-document-library/notice-of-meeting-of-securityholders-and-management-information-circular.pdf and on SEDAR at www.sedar.com.
The Acquisition is subject to, among other conditions, obtaining all
required regulatory approvals, and is expected to close in March 2012.
Securityholders who have questions or need any additional information
should contact their professional advisors or Laurel Hill Advisory
Group, the proxy solicitation agent in connection with the meetings,
toll-free within North America at 1-888-742-1305 or collect
416-304-0211, or by email to: email@example.com.
Additional Information about ISS
As noted on ISS' website, for 25 years, ISS has been the leading
provider of proxy research to institutional investors. ISS' proxy
research allows investors to understand corporate governance risk and
take appropriate proxy voting action. Investors, regulators and media
regularly turn to ISS experts for insight and data on trends in, among
other things, corporate governance and proxy voting operations and
Claymore Investments, Inc. is a leader in bringing intelligent, low cost
exchange-traded funds to Canada through its family of exchange-traded
and closed-end funds across broad asset classes including core equity,
global sectors, fixed income and commodities. With approximately $7.5
billion in assets under management as of January 31, 2012, Claymore
Investments, Inc. is a subsidiary of Guggenheim Funds Services Group,
Inc., a financial services and asset management company based in the
Chicago, Illinois area and is an indirect subsidiary of Guggenheim
Partners, LLC, a global, diversified financial services firm with more
than $125 billion in assets under supervision.
For further information about Claymore Investments, Inc. or the Claymore
Funds, please visit our website at www.claymoreinvestments.ca.
SOURCE Claymore Investments, Inc.
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Claymore Investments, Inc.