Art In Motion Income Fund

Art In Motion Income Fund

March 25, 2008 12:34 ET

Art In Motion Announces Allan Achtemichuk Will Continue to Serve as Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2008) - Art In Motion Income Fund (the "Fund") (TSX:AIM.UN) today announced that Allan Achtemichuk has agreed to continue to serve as Chief Financial Officer of Art In Motion Limited Partnership, the operating subsidiary of the Fund.

As announced previously, Mr. Achtemichuk had tendered his resignation as Chief Financial Officer and such resignation was to be effective today. Since his resignation followed the recent change of control in the voting securities of the Fund, Mr. Achtemichuk was entitled to receive certain payments and benefits, including a lump sum payment equivalent to 24 months salary. The Fund and Mr. Achtemichuk have now agreed that Mr. Achtemichuk will receive an amount that includes this lump sum payment immediately but that Mr. Achtemichuk will continue in his role as Chief Financial Officer pursuant the terms of an agreement signed with the Fund. The agreement has a term that expires on December 31, 2008, unless extended by mutual agreement of the parties.

About the Fund

The Fund is an unincorporated, open-ended limited purpose trust established under the laws of British Columbia to hold, indirectly, the securities of Art In Motion Limited Partnership. Art In Motion is a leading global publisher, framer and licensor of images and fine-art reproductions. Art In Motion designs, manufactures and markets fine-art reproductions based on proprietary artwork.

Contact Information

  • Art In Motion Income Fund
    Larry Sullivan
    Chief Executive Officer
    1-877-AIM-3233 (1-877-246-3233)