BG Income + Growth Split Trust

BG Income + Growth Split Trust

April 29, 2008 08:59 ET

BG Income + Growth Split Trust Announces Special Security Holder Meeting on Fund Reorganization

TORONTO, ONTARIO--(Marketwire - April 29, 2008) - BG Income + Growth Split Trust (the "Trust") (TSX:BDS.UN)(TSX:BDS.PR.A) announces that the special unitholder meeting previously described in the press release on April 18, 2008 has been advanced to June 9, 2008 to coincide with the meeting date for all other funds contemplated in the fund reorganization. In addition, the preferred securities will not be called in June 2008 as previously announced, but rather holders of the preferred securities will be asked at a meeting of such holders to be held on June 9, 2008 to authorize the exchange of the preferred security into an equivalent security with the same terms in the continuing fund. By exchanging the preferred securities of the Trust into preferred securities of the continuing fund having the same maturity date, coupon and other terms, holders thereof will obtain greater asset coverage as the continuing fund will comprise assets of up to seven funds managed by Brompton. In addition, holders of preferred securities who do not wish to exchange will be given the opportunity to redeem their preferred securities and receive $10.00 therefor.

Details regarding the proposed reorganization will be contained in a joint information circular which is expected to be mailed to unitholders and holders of preferred securities in May in connection with the special meetings. The circular will also be available on and be posted on Brompton's website.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the fund's publicly filed documents which are available from SEDAR at Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • Brompton Funds Management Limited
    David E. Roode
    Senior Vice-President
    (416) 642-6008