Citadel SMaRT Fund
TSX : CRT.UN

Citadel SMaRT Fund
Citadel Multi-Sector Income Fund
TSX : CMS.UN

Citadel Multi-Sector Income Fund
Citadel Income & Growth Fund
TSX : CIF.UN

Citadel Income & Growth Fund
Income & Equity Index Participation Fund
TSX : IEP.UN

Income & Equity Index Participation Fund
Energy Plus Income Trust
TSX : EPF.UN

Energy Plus Income Trust

October 21, 2005 16:35 ET

Citadel Adjourned Special Meeting Results

CALGARY, ALBERTA--(CCNMatthews - Oct. 21, 2005) - Citadel SMaRT Fund ("SMaRT") (TSX:CRT.UN); Citadel Multi-Sector Income Fund ("Multi-Sector") (TSX:CMS.UN); Citadel Income & Growth Fund ("Income & Growth") (TSX:CIF.UN); Income & Equity Index Participation Fund ("Income & Equity") (TSX:IEP.UN); and Energy Plus Income Trust ("Energy Plus" and collectively, the "Citadel Funds") (TSX:EPF.UN) announced the results of the adjourned special meetings of the Unitholders of the Funds scheduled for October 12, 2005.

Quorum was reached on each of the Funds for the adjourned meetings and accordingly the adjourned special meetings proceeded as planned. All of the resolutions were passed with the required majorities. The resolutions set out below were passed in respect of the following funds:



CITADEL SMART FUND
CITADEL MULTI-SECTOR INCOME FUND
CITADEL INCOME & GROWTH FUND
INCOME & EQUITY INDEX PARTICIPATION FUND
ENERGY PLUS INCOME TRUST


Merger of Citadel Funds. To authorize the board of directors of each of the Citadel Funds to merge any Citadel Fund with any one or more other Citadel Fund with similar investment objectives, policies and restrictions.

Consolidation of Fund Administrators. To permit the amalgamation of administrators of each of the Citadel Funds and the assignment of the applicable administration agreement to a single operating corporation whose mandate will be to provide administrative services to all of the Citadel Funds.

Securities Lending. To approve the amendment of the investment restrictions in the Declaration of Trust of each of the Citadel Funds (other than Energy Plus which was already permitted to undertake securities lending) to permit the respective Citadel Fund to enter into securities lending agreements.

Unit Issuance At Less Than NAV. To approve the amendment of the Declaration of Trust of each of Citadel Income & Growth and Energy Plus to permit the respective Citadel Fund to issue trust units at a price per trust unit that is less than the net asset value per trust unit at such time, including under their respective Distribution Reinvestment Programs.

Allow Investments in Stapled Units. To approve the amendment of the investment policies contained in the Declaration of Trust of Multi-Sector to permit the applicable Citadel Fund to invest in stapled units.

Quorum Amendment Resolution. To approve the amendment of the Declaration of Trust of each of the Citadel Funds (other than SMaRT which already contained that amendment) to provide that the quorum requirements for each of the Citadel Funds would be deemed to be met at any adjourned unitholder meeting.

Contact Information

  • Citadel Diversified Management Ltd.
    Joe MacDonald
    Executive Vice President, Sales and Marketing
    1-877-261-9674
    Website: www.citadelfunds.com