TORONTO, Sept. 30 /CNW/ - Citadel Fund Administrator (the "Administrator") today announced the results of the special meetings of unitholders (the "Meetings") that were held on September 30, 2009 for the following funds:
- Citadel Diversified Investment Trust: CTD.UN, TSX
- Citadel Hytes Fund: CHF.UN, TSX
- Citadel Premium Income Fund: CPF.UN, TSX
- Citadel S-1 Income Trust Fund: SDL.UN, TSX
- Citadel SMaRT Fund: CRT.UN, TSX
- Citadel Stable S-1 Income Fund: CSR.UN, TSX
- Equal Weight Plus Fund: EQW.UN, TSX
- Series S-1 Income Fund: SRC.UN, TSX
(the "Citadel Funds")
Unitholders of Equal Weight Plus Fund approved the Reorganization Resolution put forward by the Administrator. As a result, Equal Weight Plus Fund unitholders will be able to redeem their units pursuant to the special redemption privilege. Unitholders who did not redeem their units pursuant to this privilege will become unitholders of the Citadel Income Fund. The Citadel Income Fund will be the continuing fund resulting from the merger of Equal Weight Plus and the Crown Hill Fund. The exchange ratio for units of Equal Weight Plus will be based on the relative net asset values per unit. The exchange ratio will be determined prior to the merger and will be announced by press release.
None of the other business put before the Meetings was approved. As a result, there will be no special redemption privilege for unitholders of any of the Citadel Funds other than Equal Weight Plus and there will be no other changes to any of the Citadel Funds other than Equal Weight Plus. Wayne Pushka, President of the Administrator, said "We are extremely disappointed by the fact that these meetings were frustrated and did not produce a clear result."
Detailed voting results of the Meetings will be promptly filed on www.sedar.com.
SOURCE CITADEL GROUP OF FUNDS
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