Connor, Clark & Lunn Capital Class Inc., Natural Resources Class Shares and
Connor, Clark & Lunn Capital Class Inc., Balanced Portfolio Class Shares,
Series 1 Announce Special Meeting
TORONTO, Nov. 12, 2012 /CNW/ - Connor, Clark & Lunn Capital Class Inc.,
Natural Resources Class Shares ("NR") and Connor, Clark & Lunn Capital Class
Inc., Balanced Portfolio Class Shares, Series 1 ("BP") announced today that
the board of directors of Connor, Clark & Lunn Capital Markets Inc., the
manager of the funds, has approved a proposal that would result in the merger
of each of NR and BP, with Connor, Clark & Lunn Core Income and Growth Fund
("CIGF") (the "Merger Proposal").
CIGF will be the continuing fund and, as a result, shareholders of NR and BP
would become holders of CIGF Series A Units. The objectives of the Merger
Proposal are to: (i) lower the administrative costs by establishing a larger
fund; (ii) lower the management fees borne by NR and BP shareholders; and
(iii) benefit from gaining access to a broader asset pool and more balanced
income producing investment portfolio.
The investment objectives of CIGF, as the continuing fund, are to provide
unitholders with (i) an attractive yield through receipt of monthly
distributions initially targeted to yield approximately 6% of net asset value
per annum; (ii) downside protection through diversification across multiple
asset classes and a conservative approach to security selection; and (iii)
growth that outpaces inflation by investing in securities that provide both a
high yield and capital appreciation potential. The investment strategy of CIGF
is to invest in an actively managed diversified portfolio of high income
investments across a broad range of income-oriented securities, which may
include equities, income trusts, limited partnerships, real estate investment
trusts, corporate bonds, convertible bonds, preferred shares, other income
funds and other investments.
Shareholders of NR and BP will have the opportunity to redeem their NR and BP
shares at net asset value per share until the day before the effective date of
the merger if they choose not to participate going forward. In order for the
Merger Proposal to become effective with respect to a fund, it must be
approved by a two-thirds majority of the shareholders of such fund present in
person or represented by proxy at the Meetings. The Merger Proposal is also
subject to the receipt of all necessary regulatory approvals. If approved, the
special resolutions are expected to be implemented on or about January 8, 2013.
Special meetings of holders of Natural Resources Class Shares and Balanced
Portfolio Class Shares, Series 1 will be held at 8:30 a.m. (Toronto time) on
December 20, 2012 at 1 First Canadian Place, Suite 6300, 100 King Street West,
Toronto, Ontario. Details of the Merger Proposal will be outlined in a joint
information circular (the "Circular") to be sent to shareholders of NR and BP
in connection with the special meetings.
For more information, please visitwww.cclcapitalmarkets.com or contact:
Neil Murdoch President & CEO Connor, Clark & Lunn Capital Markets Inc. (416)
Darren Cabral Vice President & CFO Connor, Clark & Lunn Capital Markets Inc.
(416) 214-6182 or 1 (888) 276-2258 firstname.lastname@example.org
SOURCE: Connor, Clark & Lunn Capital Class Inc.
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CO: Connor, Clark & Lunn Core Income and Growth Fund
NI: FIN FND FLOWS MNA
-0- Nov/12/2012 18:59 GMT
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