Criterion Funds

February 03, 2011 10:59 ET

Criterion Funds Announce Completion of Merger

TORONTO, ONTARIO--(Marketwire - Feb. 3, 2011) - Criterion Water Infrastructure Fund ("Water Fund"), Criterion Global Clean Energy Fund ("Clean Energy Fund") and Criterion Utility Plus Fund ("Utility Plus Fund") announce the completion of their mergers effective February 3, 2011.

In connection with the merger of Water Fund into Utility Plus Fund, former Unitholders of Water Fund received the corresponding class of units of Utility Plus Fund in accordance with the following table:

Class of Units of Water Fund Utility Plus Units Issued per Water Fund Unit * Class of Units of Water Fund Utility Plus Units Issued per Water Fund Unit *
A 0.6320 Class A L 0.6333 Class A
B 0.6315 Class A M 0.6332 Class A
C 0.6489 Class A N 0.6483 Class A
D 0.6553 Class A O 0.6536 Class A
F 0.6839 Class F P 0.6833 Class F

* The exchange ratio was determined by dividing (i) the net asset value per unit of a particular class of Water Fund as at the close of business on February 2, 2011 by (ii) the net asset value per unit of the corresponding class of Utility Plus Fund as at the close of business on February 2, 2011.

In connection with the merger of Clean Energy Fund into Utility Plus Fund, former Unitholders of Clean Energy Fund received the corresponding class of units of Utility Plus Fund in accordance with the following table:

Class of Units of Clean Energy Fund Utility Plus Units Issued per Clean Energy Fund Unit *
H 0.5551 Class A
F 0.5872 Class F
U 0.6224 Class A
P 0.6547 Class F
* The exchange ratio was determined by dividing (i) the net asset value per unit of a particular class of Clean Energy Fund as at the close of business on February 2, 2011 by (ii) the net asset value per unit of the corresponding class of Utility Plus Fund as at the close of business on February 2, 2011. 

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