TORONTO, Nov. 26, 2013 /CNW/ - Ridgewood Capital Asset Management Inc. (the "Manager"), the manager of Ridgewood Canadian Investment Grade Bond Fund (TSX: RIB.UN) (the "Fund"), announces that a special meeting (the "Meeting") of holders (the "Unitholders") of the Fund's units (the "Units") will be held on January 10, 2014, commencing at 10:00 a.m. at the offices of Fasken Martineau DuMoulin LLP, 333 Bay Street, Suite 2400, Toronto, Ontario.
The purpose of the Meeting is to seek Unitholder approval of an increase to the Fund's maximum permitted leverage from 25% to 35% of the total assets of the Fund (the "Proposed Leverage Increase").
Details regarding the Proposed Leverage Increase will be contained in an information circular (the "Circular") which is expected to be mailed to Unitholders in mid-December, 2013. The record date for the special meeting is December 6, 2013. Unitholders are encouraged to review the Circular and complete and return their proxy forms in order that their Units can be voted at the Meeting. The board of directors of the Manager has determined that the Proposed Leverage Increase is in the best interest of the Fund and, accordingly, recommends that Unitholders vote in favour of the extraordinary resolution authorizing the Proposed Leverage Increase.
Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to: the proposed timing of the Meeting, the mailing of the information circular and the record date for the Meeting, and the nature of the Proposed Leverage Increase. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of the Fund. Such forward-looking statements are only predictions; actual events or results may differ materially and the Fund does not undertake any obligation to update such statements.
SOURCE: Ridgewood Canadian Investment Grade Bond Fund
For further information:
For further information regarding the Fund, please visit the Ridgewood Capital Asset Management website at www.ridgewoodcapital.ca or contact John H. Simpson, CFA, Managing Director, Ridgewood Capital Asset Management Inc. at 416 479 2751.