Morneau Sobeco Income Fund
TSX : MSI.UN

Morneau Sobeco Income Fund

December 02, 2010 12:55 ET

Morneau Sobeco Announces Approval of Plan of Arrangement

TORONTO, ONTARIO--(Marketwire - Dec. 2, 2010) -

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Morneau Sobeco Income Fund (the "Fund") (TSX:MSI.UN) announced today that it received a final order from the Ontario Superior Court of Justice approving its proposed reorganization from an income trust structure into a public corporation (to be named Morneau Shepell Inc.) pursuant to a plan of arrangement (the "Arrangement"). The Arrangement had previously received the approval of a requisite majority of voting unitholders at a duly constituted special meeting of voting unitholders held on November 29, 2010. Full details of the Arrangement are described in the Management Information Circular dated October 22, 2010 that was mailed to all voting unitholders.

The completion of the Arrangement is also subject to approval of the TSX for the substitutional listing of the common shares to be issued in connection with the reorganization and receipt of any necessary third party consents. There can be no certainty, nor can the Fund provide any assurance, that these conditions will be satisfied or, if satisfied, when they will be satisfied. If these conditions are satisfied as anticipated, the Arrangement is scheduled to be effective on or about January 1, 2011.

About Morneau Sobeco Income Fund

Morneau Sobeco Income Fund is Canada's largest human resource consulting and outsourcing firm focused on pensions, benefits, employee assistance program (EAP) and workplace health management and productivity solutions. We offer business solutions that help our clients reduce costs, increase employee productivity and improve their competitive positions by supporting their employees' financial security, health and well-being.

Forward-Looking Statements

This news release contains forward-looking information relating to the completion of the Arrangement. Reliance should not be placed on forward-looking statements as they involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Fund to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forward in the forward-looking statements include the failure to satisfy or obtain a waiver of the conditions to the Arrangement, a change in tax provisions, and other risks detailed in the Fund's management information circular for the Meeting dated October 22, 2010, which was filed with securities commissions and posted on SEDAR at www.sedar.com.

The Fund undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

  • Morneau Sobeco Income Fund
    Investor Relations
    (416) 445-2700