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TORONTO, March 12, 2020 /CNW/ - Cymbria Corporation (TSX: CYB) ("Cymbria") announced today that, with the assistance of an independent valuator and the Investment Advisor, the value of Cymbria's investment in EdgePoint Wealth Management Inc. ("EdgePoint") has been decreased from $ 254,400,000 to $219,200,000.
This adjustment is primarily the result of a reduction in assets under management subsequent to December 31, 2019 as global equities declined in value caused by fear over the COVID-19 pandemic's economic impact. It is expected this will cause a decrease to Cymbria's A share aNAV of approximately 3.3% or $1.50 per share.
After the revaluation, EdgePoint will represent approximately 21.4% of Cymbria's Portfolio.
ABOUT CYMBRIA CORPORATION
Cymbria's investment objective is to provide shareholders with long-term capital appreciation through an actively managed portfolio comprised primarily of global equities and an investment in EdgePoint Wealth Management Inc. Cymbria began trading on the TSX on November 4, 2008 under the symbol CYB.