TORONTO, May 18 /CNW/ - Charterhouse PSI Management Corporation
("Charterhouse") is pleased to announce that Jovian Capital Corporation
("Jovian") (JVN : TSX-V) has acquired control of Charterhouse by taking up the
balance of the shares of Charterhouse Holding Corporation ("Holding") not
already held by Jovian. Jovian acquired its original minority stake in Holding
in September 2004. Charterhouse is the manager of Charterhouse Preferred Share
Index Corporation ("PSI") (PFD.PR.A: TSX) and Charterhouse PSI Investment
Philip Armstrong, CEO of Jovian said "we are pleased to complete the
acquisition of Charterhouse. It is consistent with our goal of expanding our
presence in the exchange traded structured product market." A wholly-owned
subsidiary of Jovian, Jove Investment Management Inc. ("Jove"), already acts
as the index administrator for IndexCo.
Peter Rizakos, one of the founders of Charterhouse and the outgoing CEO
of PSI and IndexCo, said "this transaction makes a lot of sense for PSI
shareholders. Jovian has been involved with PSI since day one with its initial
investment in Holding and subsequently through Jove as the index administrator
for IndexCo. While the day-to-day operations of PSI and IndexCo will not
change, PSI is now part of the more substantial group of Jovian companies."
Jovian is a management and holding company with interests in a variety of
financial service firms specializing in wealth and asset management. The
Jovian group of companies operates as a national financial services
organization with approximately $11.8 billion of client assets.
On behalf of the Board of Directors of PSI and IndexCo, Charterhouse is
pleased to announce the appointment of Kevin Beatson as Chief Executive
Officer and Jason Mackey as Chief Financial Officer, effective immediately.
Mr. Beatson is the CEO of Felcom Data Services Inc., a fund administrator and
wholly-owned subsidiary of Jovian. Mr. Mackey is the CFO of Jovian.
Both PSI and IndexCo would like to welcome. Messrs. Beatson and Mackey,
along with Mr. Robert Marcus, who will join existing board members Messrs.
Harvey Naglie and Peter Rizakos on the Board of Directors. Mr. Marcus is the
President and CIO of Majorica Asset Management Corporation and is one of
Canada's leading fixed income managers.
PSI and IndexCo would like to thank Messrs. William Braithwaite,
Frederick Chann and John Philp, who have served as directors since inception
and have resigned from the Boards of both companies.
For further information: Kevin Beatson, Chief Executive Officer, (416) 777-5165, or Don Sangster, Investor Relations, Jovian Capital Corporation, (416)
933-5752, E-mail: email@example.com, Web site:
CO: Charterhouse PSI Management Corporation
NI: MNA FIN
-0- May/18/2006 20:29 GMT
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