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Update on LOGiQ Advantage Bond Fund and Termination
Update on LOGiQ Advantage Bond Fund and Termination Canada NewsWire TORONTO, Dec...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\n\n\nUpdate on LOGiQ Advantage Bond Fund and Termination\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 19, 2017\n\n\n\nTORONTO, Dec. 19, 2017 /CNW/ - LOGiQ Asset Management Ltd. (the \"Manager\"), as manager of LOGiQ Advantage Bond Fund (the \"Fund\") announced today plans to terminate the Fund based on its determination that it is in the best interests of the unitholders to do so. \n\nThe Manager held the adjourned special meetings of the holders (the \"Securityholders\") of units of the Fund to consider the Fund changes (the a \"Proposal\") which were proposed in connection with the sale by LOGiQ Asset Management Inc. to Purpose Investments Inc. of the management agreements and related assets relating to the Fund (the \"Transaction\") as described in the joint management proxy circular dated October 3, 2017 sent to Securityholders (the \"Circular\").   At the special meetings, Securityholders of the Fund did not approve the special resolution to authorize the Proposal.  Accordingly, and as previously indicated in the press release of the Fund dated November 10, 2017, the Manager intends to close the Fund as soon as practicable, with a target completion date on or about December 29, 2017. The Manager also intends to terminate LOGiQ MBB Trust, the portfolio fund that the Fund gains exposure to pursuant to the Fund's forward agreement.\n\nLeading up to the termination date, the Manager will use its commercially reasonable efforts to sell all non-cash assets of the Fund and discharge the Fund's outstanding liabilities. The remaining assets will then be distributed pro rata among unitholders as soon as practicable after the termination date. It is expected that the Fund's units will also be delisted from the Toronto Stock Exchange on or about December 22, 2017.\n\nThe Fund is a closed-end investment trust managed by the Manager.   The Manager is a wholly-owned subsidiary of LOGiQ Asset Management Inc. (TSX: LGQ), which is a diversified asset management company that manages h...