CALGARY, ALBERTA--(Marketwired - June 15, 2016) - Norrep Capital Management Ltd. ("Norrep") announced today that the previously announced proposed mutual fund mergers (the "Mergers") of Norrep Global Class into Norrep Global Income Growth Class, and of Norrep Canadian Equity Class into Norrep Core Canadian Pool, have been approved by shareholders at special meetings held on June 15, 2016. The details of the proposed mergers were set out in a joint Management Information Circular dated May 11, 2016.
Norrep also announces that the Mergers have received all requisite regulatory approvals. The Independent Review Committee for each of the merging funds had previously considered the Mergers and provided Norrep with its positive recommendation with respect to the Mergers.
It is expected that the merger of Norrep Canadian Equity Class into Norrep Core Canadian Pool will close on or about June 16, 2016. The merger of Norrep Global Class into Norrep Global Income Growth Class is expected to close on or about June 27, 2016.
In addition, Norrep announces that shareholders of Norrep Entrepreneurs Class have approved the special resolution to change the Fund's benchmark to 100% BMO Small Capitalization Equity Only Weighted Total Return Index. The benchmark change is expected to be made effective on or about June 30, 2016.
Norrep also announces that the record date to determine shareholders of Norrep Global Income Growth Class entitled to receive a dividend on June 30, 2016 is the close of business on June 24, 2016.
Norrep Capital Management Ltd. is a Canadian investment firm with offices in Calgary and Toronto. Please visit www.norrep.com for more details about Norrep Investments.
Contact Information:
Dealer & Client Services Associate
Norrep Capital Management Ltd.
(877) 431-1407