Altus Group Income Fund

Altus Group Income Fund

May 08, 2008 15:22 ET

Altus Group Income Fund Announces Clarification Amendments to the Proposed Executive Compensation Plan

TORONTO, ONTARIO--(Marketwire - May 8, 2008) - Altus Group Income Fund ("Fund") (TSX:AIF.UN) today announced clarification amendments to the proposed Executive Compensation Plan outlined in the Fund's Management Information Circular, dated April 11, 2008. Voting will take place at the Fund's Annual and Special Meeting to be held on Monday, May 12, 2008. Proxies may be deposited to CIBC Mellon Trust Company up until 5:00 pm on May 8th, or with the Chair at the Meeting.

The Fund is proposing that both the Unit Option Plan ("Option Plan") and the Deferred Performance Plan ("Performance Plan") be amended to clarify that (i) the Administrators of the plans be the Board or any committee of the Board made up of independent Trustees, and (ii) that Unitholder approval will be required in respect of any amendments that would allow the transfer or assignment of Options or Locked-up Securities other than for normal estate settlement purposes, or a change that would allow the participation of non-employee Trustees.

In addition, the Fund is proposing that the Option Plan be amended to confirm that Unitholder approval would be required in respect of any reduction in the exercise price of any Options or other entitlements (not just those held by Insiders), and in respect of any extension of term of any Options (not just those held by Insiders). Further, any amendment that would provide for the addition of a form of financial assistance will require Unitholder approval.

About Altus Group Income Fund

Altus Group Income Fund is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,100, Altus has 31 offices in 23 cities throughout Canada and 6 offices throughout the UK. Altus operates as: Altus Research, Valuation and Advisory; Altus Cost Consulting; Altus Realty Tax Consulting; Altus InSite; Altus Geocom; Altus Geomatics; and Altus Edwin Hill Altus UK LLP. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords, as well as companies engaged in the oil and gas industry.

Contact Information

  • Altus Group Income Fund
    Sayla Nordin
    Director of Communications
    (416) 557-0939