Charterhouse Preferred Share Index Corporation (PFD.PR.A) and
Nuveen Senior Floating Rate Income Fund (FSL.UN) Announce Special Unitholder/Shareholder Meetings
TORONTO, June 16 /CNW/ - Charterhouse Preferred Share Index Corporation ("Charterhouse") and Nuveen Senior Floating Rate Income Fund ("Nuveen") announce that they will hold special meetings of the unitholders of Nuveen and of the preferred shareholders of Charterhouse (collectively, "Securityholders") on August 11, 2008, to consider certain proposals relating to Nuveen and Charterhouse. JovFunds Management Inc. ("JovFunds") is the manager of each of these products.
At the meetings, Securityholders, as applicable, will be asked to consider:
<< 1. Fund Mergers: Charterhouse and Nuveen: To approve the merger of Nuveen and Charterhouse into Fairway Diversified Income and Growth Trust, a product also managed by JovFunds. 2. Authority to terminate: Charterhouse: To approve an amendment to the articles of incorporation of Charterhouse to permit the termination of the corporation at any time if so determined by the board of directors to be in the best interest of the shareholders. >>
"We consider these proposals to be in the best interest of the preferred shareholders of Charterhouse and the unitholders of Nuveen," said Kevin Beatson, President and Chief Executive Officer of Charterhouse PSI Management Corporation, and Chief Operating Officer of JovFunds. "The merger of Charterhouse and Nuveen into the Fairway Diversified Income and Growth Trust in particular makes sense due to the resulting economies of scale, and the reduced expenses for investors."
About JovFunds Management Inc. (www.jovfunds.com)
JovFunds provides innovative investment solutions for Canadians through the creation, distribution and management of high quality investment products. JovFunds manages and distributes in excess of $1.8 billion in client assets and is a member of the Jovian Capital Corporation group of companies.
About Jovian Capital Corporation (www.joviancapital.com)
Jovian is a publicly-traded company listed on the TSX (JOV). Jovian is a management and holding company with interests in a variety of financial service firms specializing in wealth* and asset(xx) management. The Jovian group of companies operates as a national financial services organization with approximately $15.0 billion of client assets ($5.8 billion in assets under management and $9.2 billion in assets under administration).
Certain statements contained in this news release may include forward-looking information with respect to operations and future financial results. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements.
*Wealth management entities include MGI Securities Inc., MGI Securities
(USA) Inc. and Rice Financial Group Inc. (xx)Asset management entities
include BetaPro Management Inc., Horizons Funds Inc., JovFunds
Management Inc., JovFunds Inc., JovInvestment Management Inc., Leon
Frazer & Associates Inc. and T.E. Wealth. Financial corporate service
entities include Felcom Data Services Inc.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Additional information relating to Jovian is available at www.sedar.com and www.joviancapital.com.
For further information: Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744
CO: Jovian Capital Corporation ST: Ontario NI: FIN FND FLOWS -0- Jun/16/2008 22:30 GMT