AG Growth Income Fund
TSX : AFN.UN

AG Growth Income Fund

May 26, 2009 13:28 ET

Ag Growth Special Meeting Scheduled for June 3, 2009

WINNIPEG, MANITOBA--(Marketwire - May 26, 2009) - Ag Growth Income Fund (the "Fund") (TSX:AFN.UN) reminds unitholders that the Fund's Special Meeting of Securityholders is scheduled for 9:00 a.m. (Toronto time) on June 3, 2009 in the Chelsea Room at Le Royal Meridien King Edward Hotel, 37 King Street East, Toronto, Ontario. The proxy deadline for the meeting is 9:00 am (Toronto time) on June 1, 2009.

The agenda for the meeting is the approval of the proposed plan of arrangement pursuant to which the Fund will convert from an income trust to a corporation, "Ag Growth International Inc." and the approval of a new share option plan for Ag Growth International Inc.

The Fund also advises of certain non-material amendments to the matters to be considered by securityholders at the meeting. The authorized share capital of Ag Growth International Inc. will include only common shares and the 4,000,000 class A preferred shares to be issued pursuant to the plan of arrangement. The share capital will not include first and second preferred shares issuable in series as initially proposed. In addition, the share option plan will be amended to exclude participation by non-employee directors and to limit Ag Growth International Inc.'s ability to amend the plan without shareholder approval to expand the transferability of options, expand participation in the plan or reprice non-insider options.

Details of the terms of the plan of arrangement and the share option plan are set out in the Management Information Circular that has been mailed to securityholders and is available on SEDAR (www.sedar.com).

Company Profile

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

Contact Information

  • Ag Growth Income Fund
    Steve Sommerfeld
    Investor Relations
    (204) 489-1855
    Email: steve@aggrowth.com