AG Growth Income Fund

AG Growth Income Fund

December 20, 2006 17:01 ET

Ag Growth Income Fund Announces CEO Appointment and Changes to Board of Trustees

WINNIPEG, MANITOBA--(CCNMatthews - Dec. 20, 2006) - Ag Growth Income Fund (TSX:AFN.UN) today announced the appointment of Mr. Rob Stenson as Chief Executive Officer of the Fund, effective immediately. Mr. Stenson was the CEO of Ag Growth from its initial public offering on May 18, 2004 until June 30, 2006. Mr. Gary Anderson, President and Chief Operating Officer of the Fund, stated "We are thrilled to welcome Rob back to the Ag Growth team. On behalf of all senior management, we welcome Rob's return and look forward to working together to continue to build value and enhance unitholder return."

The Fund also announced several changes to its Board of Trustees. Mr. Rod Senft, Chairman of the Board of Trustees since the inception of the Fund, today resigned as Trustee and Chairman. Messrs. Harold Bjarnason and Terrence Wright also today resigned from the Board of Trustees. Mr. Anderson expressed thanks on behalf of senior management and the Board, "We would like to thank the resigning Board members for their important contributions since the initial public offering of the Fund. Their dedicated service helped enable Ag Growth to successfully make the transition from a privately held entity to a publicly held Income Trust."

Mr. Bill Lambert, Special Partner to Birch Hill Equity, was appointed as Chairman of the Board. "We look forward to drawing on Bill's leadership and experience," said Rob Stenson, "Bill's reputation for business acumen and integrity is well established, and his appointment as Chairman will provide Ag Growth with a continuation of the excellent guidance and leadership provided by Rod Senft."

The Board of Trustees is currently comprised of William Lambert (Chair), John R. Brodie, David White, Bill Maslechko, Rob Stenson and Gary Anderson.

Company Profile

Ag Growth is a leading manufacturer of portable grain handling and conditioning equipment, including augers, belt conveyors, grain handling accessories and grain aeration equipment. Ag Growth's sales, marketing, and distribution system includes approximately 1,400 dealers and distributors in 48 states and nine provinces.

Contact Information

  • Ag Growth Income Fund
    Steve Sommerfeld
    Investor Relations
    (204) 489-1855