Aston Hill Asset Management Inc. announces proposed reorganization and merger
of Aston Hill Global Agribusiness Fund, Aston Hill Senior Gold Producers
Income Corp. and Aston Hill Global Uranium Fund Inc.
TORONTO, Jan. 22, 2013 /CNW/ - Aston Hill Asset Management Inc. (the
"Manager"), the manager of Aston Hill Global Agribusiness Fund ("Global
Agribusiness", TSX: AGB.UN), Aston Hill Senior Gold Producers Income Corp.
("Senior Gold Producers", TSX: GPC) and Aston Hill Global Uranium Fund Inc.
("Global Uranium", TSX: GUR and, together with Global Agribusiness and Senior
Gold Producers, the "Funds"), announced today that it will propose to
securityholders that (a) Global Agribusiness change its investment mandate and
be reorganized into a public mutual fund and (b) Senior Gold Producers and
Global Uranium be merged into Global Agribusiness if its reorganization is
Following the reorganization, Global Agribusiness would change its name to
"Aston Hill Global Resource and Infrastructure Fund" and its new investment
objective would be to provide exposure to resource companies including related
infrastructure companies by investing primarily in equity and fixed income
securities (including high yield debt securities) of such companies located
anywhere in the world.
The Manager expects that the benefits for existing securityholders from the
proposed transactions will include:
-- an attractive new investment mandate
-- daily liquidity at net asset value per security
-- no increase in management fees despite a broader investment
-- the ability to switch to other Aston Hill Mutual Funds.
Special meetings of the securityholders of each Fund will be held on or about
March 8, 2013 to approve the reorganization and mergers which, if approved,
will be implemented on or about March 21, 2013 following a delisting of each
Fund's securities from the Toronto Stock Exchange. The reorganization of
Global Agribusiness, if approved, will be implemented regardless of whether
either or both proposed mergers are approved. Each proposed merger that is
approved will be implemented, regardless of whether the other proposed merger
is approved, as long as the reorganization of Global Agribusiness also is
Additional information concerning the proposed transactions will be contained
in the materials provided to securityholders in connection with the special
meetings and will be available in due course on www.sedar.com and at
About Aston Hill
The Manager is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSX:
AHF). Aston Hill Financial Inc. is a diversified asset management company
with a suite of retail mutual funds, closed end funds, private equity funds,
hedge funds and segregated institutional funds. Aston Hill Financial is also
engaged in the administration of Argent Energy Trust (TSX: AET.UN). Aston
Hill Financial has offices in Calgary, Toronto and Halifax.
Michael J. Killeen President Aston Hill Asset Management Inc. (416) 583-2300
SOURCE: Aston Hill Asset Management Inc.
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-0- Jan/22/2013 16:41 GMT
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