KBSH Capital Management Inc.

KBSH Capital Management Inc.

September 23, 2005 14:53 ET

Unitholders To Be Presented A Plan To Wind-Up KBSH Leaders Trust

TORONTO, ONTARIO--(CCNMatthews - Sept. 23, 2005) - The Board of Directors of KBSH Capital Management Inc., the manager and investment manager of KBSH Leaders Trust ("Trust") (TSX:KLT.UN), today authorized presenting to unitholders of the Trust ("Unitholders") a plan for the liquidation, dissolution and winding up of the Trust. A special Unitholder meeting has been called and will be held on or about November 23, 2005, where Unitholders will be asked to vote upon a special resolution requiring the approval of two-thirds of the Unitholders represented at the special meeting to approve the liquidation, dissolution and winding up of the Trust. Details of the plan will be outlined in a management information circular and proxy statement to be prepared and delivered to Unitholders of the Trust at the end of October 2005. The reasons for the wind-up are: (i) the net assets of the Trust have declined to the point relative to the ongoing expenses of the Trust where it has become uneconomical to operate the Trust from a unitholder perspective; and (ii) the units of the Trust which are listed on the TSX are thinly traded. If the special resolution is approved by Unitholders, the assets of the Trust will be liquidated and at least one liquidating distribution, equal to the net asset value at that time, will be paid to Unitholders of the Trust shortly thereafter. If Unitholders do not approve the special resolution, the Trust will continue as it is currently being operated.

By its Manager and Investment Manager, KBSH Capital Management Inc.

Contact Information

  • KBSH Capital Management Inc.
    Peter A. Pennal
    President & CEO
    (416) 815-4306
    www.kbsh.ca