Resolve Business Outsourcing Income Fund
TSX : RBO.UN

Resolve Business Outsourcing Income Fund

December 08, 2006 16:22 ET

Resolve Business Outsourcing Income Fund Trustees Approve Unitholder Rights Plan

TORONTO, ONTARIO--(CCNMatthews – Dec. 8, 2006) –

Attention Business Editors:

Resolve Business Outsourcing Income Fund (the "Fund")(TSX:RBO.UN) announced that the Trustees of the Fund have approved the adoption of a unitholder rights plan ("Rights Plan") for which unitholder approval will be sought at the Resolve annual meeting of unitholders to be held by June 8, 2007. The TSX has accepted notice for filing of the Rights Plan.

The purpose of the Rights Plan is to provide unitholders and the Trustees of the Fund with adequate time to consider and evaluate any unsolicited bid made for the Fund, to provide the Trustees with adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid, to encourage the fair treatment of unitholders in connection with any take-over bid for the Fund and to ensure that any proposed transaction is in the best interests of the unitholders of the Fund.

The Rights Plan is similar to other rights plans adopted by many Canadian income trusts and corporations. The Rights Plan is not triggered if an offer to acquire Fund units would allow sufficient time for unitholders to consider and react to the offer and would allow unitholders to decide to tender or not to tender without the concern that they will be left with illiquid Fund units should they not tender. The issuance of the rights will not change the manner in which unitholders trade their Fund units.

The Rights Plan was not proposed in response to, or in anticipation of, any pending, threatened or proposed acquisition or take-over bid. The Trustees did not adopt the Rights Plan to prevent a take-over of the Fund, to secure the continuance of management or the directors in their respective offices or to defer offers for the units of the Fund.

About Resolve

Resolve is a progressive business process outsourcing (BPO) firm, providing services to over 1000 blue-chip businesses and governments across North America. Resolve delivers essential business functions to its clients on an outsourced basis, enabling them to spend more time focused on building customer relationships, growing sales revenue, and improving operational efficiency. Resolve's diverse BPO solution portfolio includes Finance and Administrative solutions (F&A), Customer Relationship Management solutions (CRM), and Supply Chain Management solutions (SCM). Along with various government ministries and agencies, Resolve's clients include some of the most recognizable brand names from the financial services, retail, consumer goods and manufacturing sectors. Resolve Business Outsourcing Income Fund is listed on the Toronto Stock Exchange, symbol RBO.UN. For more information, visit www.resolve.com.

Contact Information

  • Resolve Corporation
    Lawrence Zimmering
    President
    (416) 503-1800

    Resolve Corporation
    David Horton
    Chief Financial Officer
    (416) 503-1800
    Website: www.resolve.com

    Edelman
    Nolan Reeds
    (416) 979-1120 ext 316

    Edelman
    Mark Sitter
    (416) 979-1120 ext 333