LOGiQ Asset Management Ltd.

LOGiQ Asset Management Ltd.

May 02, 2017 16:18 ET

Voya High Income Floating Rate Fund and Voya Floating Rate Senior Loan Fund Announce Unitholder Approval of Merger

TORONTO, ONTARIO--(Marketwired - May 2, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

LOGiQ Asset Management Ltd. is pleased to announce that the unitholder meetings (the "Meetings") of both Voya Floating Rate Senior Loan Fund (the "Continuing Fund") and Voya High Income Floating Rate Fund (the "Terminating Fund" and together with the Continuing Fund, the "Funds") were held today. LOGiQ Asset Management Ltd. (the "Manager") is the manager of both Funds.

At the Meetings, the unitholders of both Funds approved the previously announced merger (the "Merger") of the Continuing Fund and the Terminating Fund, with the Continuing Fund being the continuing fund. Upon receipt of all necessary approvals, it is expected that the Merger will be implemented on or about July 14, 2017. The Terminating Fund will be wound up as soon as reasonably practicable following the Merger.

Unitholders of the Terminating Fund who do not wish to be part of the Merger will have the option to redeem their units for cash at net asset value as a special redemption right (the "Special Redemption Right"). For each unit of Terminating Fund submitted for redemption pursuant to the Special Redemption Right, unitholders will receive a cash amount equal to 100% of the net asset value per unit on June 29, 2017, together with any unpaid distributions (including any special distribution, if any) in respect of such unit, less any amount required to be withheld therefrom under applicable law. Such amount will be paid to redeeming unitholders on or before July 12, 2017 and in any event prior to the merger date. In order to exercise the Special Redemption Right, the units of Terminating Fund must be surrendered on or before 5:00 p.m. (Toronto time) on May 19, 2017.

Unitholders of the Continuing Fund also approved the change of the trustee of the Continuing Fund from RBC Investor Services Trust to LOGiQ Asset Management Ltd.

The Class A Units of Voya High Income Floating Rate Fund are listed on the TSX under the symbol IHL.UN. The Class A Units of Voya Floating Rate Senior Loan Fund are listed on the TSX under the symbol ISL.UN. The Class U Units of Voya Floating Rate Senior Loan Fund are listed on the TSX under the symbol ISL.U

For further information, please contact your financial advisor, call LOGiQ's Sales and Marketing support line at 416-583- 2300 (toll-free at 1-800-513-3868), or visit our website at www.logiqasset.com.

The Manager is a wholly-owned subsidiary of LOGiQ Asset Management Inc. (TSX:LGQ). LOGiQ Asset Management Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and segregated institutional funds. LOGiQ Asset Management is headquartered in Toronto.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will", "estimate" and similar expressions to the extent they relate to the Funds and the Manager. The forward-looking statements are not historical facts but reflect the current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Funds and the Manager believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Funds nor the Manager undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Contact Information

  • LOGiQ Asset Management Ltd.
    Sales and Marketing support line
    416-583- 2300
    Toll-free at 1-800-513-3868
    www.logiqasset.com