Brompton Equity Split Corp.
TSX : BE.PR.A
TSX : BE

Brompton Equity Split Corp.
Dividend Growth Split Corp.
TSX : DGS
TSX : DGS.PR.A

Dividend Growth Split Corp.

March 31, 2011 14:31 ET

Brompton Equity Split Corp. and Dividend Growth Split Corp. Announce Independent Recommendation in Favour of Proposed Merger

TORONTO, ONTARIO--(Marketwire - March 31, 2011) - Brompton Equity Split Corp. ("BE")(TSX:BE)(TSX:BE.PR.A) and Dividend Growth Split Corp. ("DGS")(TSX:DGS)(TSX:DGS.PR.A)(collectively the "Funds") are pleased to announce that ISS Proxy Advisory Services ("ISS"), a leading provider of proxy advisory services, supports the merger of the 2 funds.

In making its recommendation, ISS concluded "The funds are under the same management and share similar attributes and investment objectives. Shareholders would not be disadvantaged as the existing redemption facilities would be maintained. Shareholders of BE would benefit by a reduction in the MER as well as the Management Fee. As there are no governance concerns, shareholder approval is warranted." 

BE and DGS previously announced that they will be holding shareholder meetings on April 8, 2011 to consider and vote upon special resolutions to merge BE and DGS by way of amalgamation (the "merger"). Full details including the benefits of the merger are contained in the joint management information circular which was mailed to all BE and DGS shareholders earlier this month together with Voting Instruction Forms. Holders are requested to submit their vote at their earliest convenience and prior to the proxy deadline of April 6, 2011. 

Permission to quote from the ISS report dated March 22, 2011 was neither sought nor obtained.

For additional information including the joint management information circular, please visit our website at www.bromptonfunds.com.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Funds, to the future outlook of the Funds and anticipated events or results and may include statements regarding the future financial performance of the Funds. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

Contact Information

  • Brompton Funds Management Limited
    Chris Cullen
    Senior Vice President
    (416) 642-9064