TORONTO, May 16, 2013 /CNW/ - Connor, Clark & Lunn Financial
Opportunities Fund ("GFO") announced that at a special meeting held
today unitholders of GFO approved a proposal that will result in the
merger of GFO with Australian Banc Income Fund ("AUI"). If
implemented, the merger will result in GFO unitholders becoming holders
of units of AUI. If all other conditions to the merger are fulfilled,
is expected that the merger will become effective on or about June 11,
2013 (the "Effective Date").
GFO unitholders will receive a number of AUI units determined based on
exchange ratios established at the close of trading on the business day
immediately preceding the Effective Date. The exchange ratios will be
calculated based on the relative net asset values of the GFO Units and
the AUI Units.
Details of the merger proposal are outlined in an information circular
that has been sent to unitholders of GFO in connection with the special
meeting. Copies of the information circular are available on www.sedar.com and www.cclcapitalmarkets.com.
Class A Units of Connor, Clark & Lunn Financial Opportunities Fund and
Class A Units of Australian Banc Income Fund are listed on the Toronto
Stock Exchange under the symbols GFO.UN and AUI.UN, respectively.
SOURCE: Connor, Clark & Lunn Capital Markets Inc.
For further information:
please visit www.cclcapitalmarkets.com or contact:
Vice President & CFO
Connor, Clark & Lunn Capital Markets Inc.
Toll Free: 1-888-276-2258