GMP Capital Corp. is going ahead with its planned income trust conversion.

Shareholders at Friday’s special meeting overwhelmingly approved the plan of arrangement to convert GMP into GMP Capital Trust, an income fund. They also approved the creation of a new trust unit option plan.

Now that shareholder approval has been obtained, a final order of the Ontario Superior Court of Justice approving the plan of arrangement for the conversion will be sought before the end of November, the firm says.

In addition to court approval, the conversion remains subject to certain regulatory and other approvals. Management anticipates that the conversion will be completed on or about Dec. 1.

The units of GMP Capital Trust have been conditionally approved for trading on the Toronto Stock Exchange under the symbol GMP.UN.