TORONTO, June 27, 2013 /CNW/ - Cymbria Corporation ("Cymbria") [TSX: CYB] today announced that shareholders have overwhelmingly approved its proposal to amend its constating documents to provide for a Liquidity Realization Opportunity ("LRO") in respect of both Class A Shares and Class J Shares. Subject to the satisfaction of certain conditions and receipt of board approval, Cymbria's first LRO will be initiated on or about July 22, 2013 with a redemption date to tender shares on or about August 30, 2013.
At a Special Meeting held today, holders of 55% of Class J Shares and 38% of Class A Shares, present or represented by proxy, voted 100% and 99.5% in favour of the LRO, respectively. "The enormously positive response to our proposal reflects our belief that we're doing the right thing for our shareholders," says Patrick Farmer, Cymbria's Chairman of the Board. "Proxy voting typically isn't high on most people's list of things to do. The vast support we received for this LRO initiative is a testament to our deep partnerships with our shareholders."
Further details on the approaching LRO will be released in the coming weeks.
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 initiate an LRO, 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]