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TORONTO, Dec. 15, 2015 /CNW/ - Cymbria Corporation ("Cymbria") [TSX: CYB] announced that holders of Class A shares and Class J shares (collectively, the "Shareholders"), at the special meeting ("Meeting") held today, have approved Cymbria's proposal to transition from the Canadian securities regime for investment funds to the regulatory regime for reporting issuers that are not investment funds (the "Transition"). The Transition will take effect on January 1, 2016.
The Transition will result in Cymbria no longer being an investment fund under applicable securities laws and therefore not subject to the investment restrictions applicable to closed-end investment funds. Shareholders will see no significant change in the way Cymbria operates as a result of the Transition, except for the timing and the manner in which it reports to Shareholders, which will be in compliance with the rules applicable to non-investment fund reporting issuers.
At the Meeting held today, Shareholders of 40.80% of the Class J Shares and Class A Shares, voting together as a single class, present or represented by proxy, voted 100% in favour of the Transition. "The approval of the Transition will allow Cymbria to continue to fulfill the broad investment mandate that we have had since our initial public offering" says Patrick Farmer, Cymbria's Chairman of the Board.
Further details on the Transition will be released as Cymbria files its continuous disclosure documents in respect of the year end 2015.
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.
This news release may contain forward-looking statements, specifically relating to the intention to complete the Transition, that are based on current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Cymbria is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
SOURCE Cymbria Corporation
For further information: Patrick Farmer at 416.963.9353 or [email protected]