Independent Review Committee Recommendations on the Blue Ribbon Proposal
As indicated in the Joint Management Information Circular dated
After reviewing the terms of the Merger Proposal, the IRC unanimously concluded that the Merger Proposal will achieve a fair and reasonable result for the Blue Ribbon Funds.
The Reorganization Proposal will result in the payment by the Blue Ribbon Funds of break fee payments to Citadel for terminating the current administrative services agreements. This related party matter was considered by the IRC separately and it determined that the Reorganization Proposal will not achieve a fair and reasonable result for either of the Blue Ribbon Funds.
Both the Merger Proposal and the Reorganization Proposal will be submitted to Unitholders for their consideration at meetings to be held on
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For further information: Investor Relations, Citadel Funds, (416) 361-9673 or (877) 261-9674; For information about Blue Ribbon and the proposals before the Blue Ribbon Funds at the special meetings, contact: Mark Caranci - (416) 642-6004; Lorne Zeiler - (416) 642-9058; David Roode - (416) 642-6008; Chris Cullen - (416) 642-9064; Toll-free: 1-866-642-6001; Email: [email protected]
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