TORONTO, June 6 /CNW/ - MACCs Sustainable Yield Trust (the "Trust")
announced today that the Board of Directors of the Trustee has unanimously
approved the following:
1) The Trust is authorized to terminate the Investment Management
Agreement with YMG Fierra and appoint Crown Hill Asset Management
Inc. as the new investment manager.
2) The Trust is authorized to terminate the Custody and Fund Valuation
Services Agreement with RBC Dexia and enter into discussions with
CIBC Mellon as a replacement.
3) The following amendments to the declaration of trust are to be made,
effective July 9, 2008:
a) Conforming Changes to Definitions. Certain changes to the
definitions are to be made to conform with the amended
declaration of trust as of June 4, 2008;
b) Changes to the Redemption and Addition of a Monthly Retraction
Feature. The Redemption Date is to be changed from a fixed date
to one that is set by the Trustee from time to time. A
retraction feature will also be added enabling Unitholders to
submit Units for retraction by the Trust on a monthly basis.
c) Investment Strategy and Investment Restriction Modification.
The Investment Strategy and Investment Restrictions will be
modified to facilitate fund mergers.
d) Removal of the Mandatory Market Purchase Program. The mandatory
nature of the market purchase program will be removed, leaving
market purchases to the Manager's discretion.
e) Notice to Unitholders Changed. The provisions for providing
notice to Unitholders will be changed, such that press
releases, filings on SEDAR and posting's on the Trustee's
website will be sufficient for most communications.
For further information:
For further information: Crown Hill Capital Corporation, Tel: (416)