TSX Symbol: CXC, CXC.PR.A
TORONTO, Dec. 24 /CNW/ - CIX Split Corp. (the "Corporation") announced today that it has obtained approval from its shareholders to change the investment objectives, strategies and restrictions of the Corporation (the "Mandate Change") to reflect that the Corporation will invest substantially all of its assets in common shares of the corporate successor ("CI Financial") to CI Financial Income Fund (the "Income Fund") after the Income Fund converts to a corporation. Currently, the Corporation has exposure to the trust units of the Income Fund.
The Mandate Change will become effective on or before January 1, 2009 and includes deleting from the Corporation's investment objectives respecting its Class A Shares the reference to targeted monthly cash distributions. The Corporation also will complete the early settlement of the sale of its common share portfolio to the counterparty to its forward purchase and sale agreement and invest the proceeds thereof in additional common shares of CI Financial.
The Corporation's Class A Shares and Priority Equity Shares are listed on the Toronto Stock Exchange under the symbols CXC and CXC.PR.A, respectively.