MONTREAL, Sept. 7, 2012 /CNW Telbec/ - O'Leary Funds Management LP, the
manager and trustee (the "Manager") of O'Leary Hard Asset Income Fund
(TSX: OHA.un) (the "Hard Asset Fund") and O'Leary Global Infrastructure
Yield Fund (the "Infrastructure Fund") announces details of the merger
of the Hard Asset Fund into the Infrastructure Fund (the "Merger"),
subject to necessary approvals.
The Manager proposes to merge the Hard Asset Fund into the
Infrastructure Fund. The Manager has obtained a positive recommendation
from the Investment Review Committee, who has determined that the
Merger achieves a fair and reasonable result for each of the funds. The
Merger has also been approved by the Manager, as trustee of both
funds. Meetings of the unitholders of both funds will be held on
October 31st, 2012, in order to obtain approval of the Merger. For the purpose of
the Meetings, the record date will be October 1st, 2012. The Merger will be implemented on or about November 1st, 2012, further to necessary approval from the unitholders and from the
securities regulatory authorities under applicable regulations being
obtained. Pursuant to the Merger, the assets of the Hard Asset Fund
will be transferred to the Infrastructure Fund and existing unitholders
of the Hard Asset Fund will receives units of a series of the
Infrastructure Fund in exchange for their units of the Hard Asset Fund.
Upon completion of the Merger, the Hard Asset Fund will be terminated.
Once all operational steps required to implement the Merger are
completed, former unitholders of the Hard Asset Fund will be able to
redeem the new series of units of the Infrastructure Fund on a daily
basis at their net asset value via FundSERV.
Important information for non-residents: unitholder accounts which are
deemed to be non-resident of a Canadian province will not be allowed to
hold units of the Infrastructure Fund following the Merger and, accordingly, will be redeemed shortly after the Merger is
O'Leary Funds Management LP is a Canadian investment fund manager of
mutual funds and closed-end funds designed to provide Canadian
investors with unique income solutions focused on capital preservation,
income and capital appreciation. O'Leary Funds specializes in
providing monthly income to investors through investment
diversification by sectors, regions and asset classes.
SOURCE: O'LEARY FUNDS MANAGEMENT LP
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