Art In Motion Income Fund

Art In Motion Income Fund

January 28, 2008 07:45 ET

Art In Motion Announces Resignation of Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2008) - Art In Motion Income Fund (the "Fund") (TSX:AIM.UN) today announced that Allan Achtemichuk has tendered his resignation as Chief Financial Officer of Art In Motion Limited Partnership, the operating subsidiary of the Fund, in order to pursue other opportunities. Since his resignation follows the recent change of control in the voting securities of the Fund, Mr. Achtemichuk will receive certain payments and benefits in connection with his resignation, including a lump sum payment equivalent to 24 months salary. The payments and benefits are subject to the terms and conditions of his employment agreement. Mr. Achtemichuk's resignation will be effective on March 25, 2008 and the Fund will commence its search for a new Chief Financial Officer effective immediately. Larry Sullivan, President and Chief Executive Officer for the Fund, commented on Mr. Achtemichuk's departure, saying, "I would like to thank Allan for his service. Looking forward, we will continue our efforts to improve Art In Motion's cost structure and maintain its sales volumes."

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 - Investor Information
    Larry Sullivan
    Chief Executive Officer
    1-877-AIM-3233 (1-877-246-3233)