YEARS Financial Trust and Dividend Growth Split Corp.: YEARS Financial Trust Completes Merger Into Dividend Growth Split Corp.
TORONTO, ONTARIO--(Marketwire - Dec. 31, 2008) - Brompton Funds is pleased to announce the completion of the merger of YEARS Financial Trust ("YTU") (TSX:YTU.UN) into Dividend Growth Split Corp. ("DGS") (TSX:DGS)(TSX:DGS.PR.A), effective December 31, 2008. This merger was approved at a special meeting of unitholders of YTU held on December 1, 2008.
The merger was implemented on a taxable basis for unitholders at an exchange ratio calculated as the net asset value ("NAV") per unit of YTU divided by the notional NAV per unit of DGS (consisting of one class A share plus one preferred share of DGS), the continuing fund, each determined as at the close of business on December 30, 2008. The table below provides the NAV per unit for each of the funds and the resultant exchange ratio at such time.
Fund
YTU NAV per Unit $11.3294
DGS NAV per Unit $13.8843
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Exchange Ratio 0.815986
Unitholders of YTU are not required to take any action in order to be recognized as a shareholder of DGS. Class A and preferred shares of DGS issued pursuant to the merger will trade under the symbols DGS and DGS.PR.A respectively, and are expected to begin trading on January 2, 2009.
For additional information concerning the merger or the funds, please visit our website at [ www.bromptongroup.com ] or consult your investment advisor.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at [ www.sedar.com ]. Investment funds are not guaranteed; their values change frequently and past performance may not be repeated.