Proposed Front Street merger |
Date: Monday, October 5, 2009
Author: Advisor.ca
Front Street shareholders are being asked to consider a merger between Front Street Mutual Funds Ltd. and Front Street Special Opportunities Canadian Fund Ltd. The merger would allow investors to switch their investments between the different mutual funds within Front Street Mutual Funds on a tax-deferred basis. A meeting to debate the proposal will be held on Nov. 24, 2009.
As part of the amalgamation, one new class of shares of Front Street Mutual Funds would be created: the Front Street Special Opportunities Canadian Fund class of shares (of which Series A, B and F shares would be created). Existing holders of the Series A, B and F shares of Front Street Special Opportunities Canadian Fund would receive Series A, B or F shares, respectively, of the Front Street Special Opportunities Canadian Fund class of shares of Front Street Mutual Funds.
The merger is subject to regulatory approvals. If permitted, the process will be completed on Dec. 1, 2009.
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