The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Supremex Income Fund Clarifies Terms Related to its Conversion to a Corporate Structure

Friday, April 30, 2010

Supremex Income Fund Clarifies Terms Related to its Conversion to a Corporate Structure10:44 EDT Friday, April 30, 2010MONTREAL, QUEBEC--(Marketwire - April 30, 2010) - Supremex Income Fund (TSX:SXP.UN) (the "Fund") today clarified certain terms related to its Plan of Arrangement for conversion to a traditional corporate structure, as described in the Fund's Management Proxy Circular dated March 24, 2010 (the "Circular"). In their role to support certain investors by providing proxy voting analysis and recommendations, RiskMetrics Group, ISS Governance Services has reviewed the Circular and recommended that the Fund clarify certain aspects of its expected post conversion structure. Specifically, RiskMetrics has requested that the successor public corporation to be named "Supremex Inc." limit the number of preferred shares that may be issued in the future and acknowledge that it is not the intention that such preferred shares be used to block any takeover.Having considered the requests from RiskMetrics, the Fund confirms that the number of new preferred shares that Supremex Inc. could issue after the effective date of the conversion will be limited to a maximum of 10,000,000 and that such preferred shares are not intended to be used to block any takeover.With these clarifications, RiskMetrics will recommend voting FOR the conversion from an income trust structure to a corporate structure at the Fund's unitholder meeting being held on May 7, 2010.ABOUT SUPREMEXSupremex Income Fund is Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and related products. Supremex is the only national envelope manufacturer in Canada with facilities in seven provinces and employs approximately 650 people. This nationwide presence enables it to manufacture products tailored to the specifications of major national customers such as leading Canadian corporations, national resellers and governmental entities, as well as paper merchants and process and solutions providers.FOR FURTHER INFORMATION PLEASE CONTACT: Source: Supremex Income Fund or Contact: Stephane Lavigne, CA Vice-President and Chief Financial Officer 514-595-0555