MONTREAL, July 22, 2013 /CNW Telbec/ - O'Leary Funds Management LP, the manager (the "Manager") of O'Leary Strategic Yield Advantaged Class ("OSY") and O'Leary Strategic Yield Plus Fund ("OFS" and together with OSY, the "Funds") is pleased to announce that regulatory approval of the merger proposal (the "Merger") was granted and the Merger of OSY into OFS was completed, effective July 19, 2013.
As a result of the Merger, which was completed on a tax-exempt basis, shareholders of record of OSY on the close of business on July 19, 2013 received:
- 0.9183551 Founder's Series units of OFS (exchange ratio of 0.9183551:1) for OSY shares of Series A;
- 0.9054906 Founder's Series units of OFS (exchange ratio of 0.9054906:1) for OSY shares of Series T6;
- 1.1325955 Series F units of OFS (exchange ratio of 1.1325955:1) for OSY shares of Series F;
- 1.1143870 Series F units of OFS (exchange ratio of 1.1143870:1) for OSY shares of Series F6
- 1.0933116 Series M units of OFS (exchange ratio of 1.0933116:1) for OSY shares of Series M
- 0.8545749 Founder's Series units of OFS (exchange ratio of 0.8545749:1) for OSY shares of Founder's Series
in exchange for each OSY share they held on July 19, 2013, based on the exchange ratios indicated above. The exchange ratios were determined by the Manager with reference to the net asset value per unit of each of the Funds as at the end of business on July 19, 2013.
O'Leary Funds Management LP is a Canadian investment fund manager of mutual funds and closed-end funds striving to provide Canadian investors with reliable and strategic income solutions. Based on our value-yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. Our core principles, Income, Capital Appreciation and Capital Preservation, are driven by each portfolios investment objectives. Our portfolios are diversified by sector, region and asset class. For more details about O'Leary Funds, visit www.olearyfunds.com.
SOURCE: O'Leary Strategic Yield Plus Fund
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For media inquiries or additional information, please contact Louise Anne Poirier, Investor Relations at [email protected] or at 877-849-2004 or 514-849-1056.