TORONTO, Sept. 21 /CNW/ - Golf Town Income Fund (TSX:GLF.UN) (the "Fund")
announced that at a special meeting held in Toronto on September 21, 2007,
unitholders of the Fund voted in favour of a special resolution authorizing,
among other things, (a) the sale of all of the indirect operating investments
of the Fund by Golf Town Limited Partnership (the "Partnership") to OCPI Golf
Inc. ("OCPI") pursuant to the transaction agreement (the "Transaction
Agreement") dated August 10, 2007 made among OCPI, OMERS Capital Partners
Inc., the Fund and the Partnership; and (b) amendments to the Declaration of
Trust of the Fund to, among other things, provide for the redemption of units
by the Fund and a special distribution to be paid by the Fund in an aggregate
amount equal to $17.15 per unit.
OCPI's obligations under the Transaction Agreement are guaranteed by
OMERS Capital Partners Inc., the entity responsible for the private equity
investments of OMERS Administration Corporation ("OMERS"). OMERS is one of
Canada's largest pension plans, with more than $48 billion in assets invested
around the globe in publicly-traded investments, real estate, infrastructure
and private equity.
Closing of the transactions contemplated in the Transaction Agreement is
expected to occur on or about September 28, 2007 and, following receipt of
approval by the trustees of the Fund, the units will be redeemed and the
special distribution will be made on or about October 2, 2007.
For further information:
For further information: Michael Rousseau, Chairman of the Special
Committee, (416) 577-6138