Citadel Fund Administrator has filed a joint management information circular for the special meetings to be held for several of its funds, the company said Thursday.

Collectively, the Citadel Funds are: Citadel HYTES Fund; Citadel Premium Income Fund; Citadel SMaRT Fund; Citadel Stable S-1 Income Fund; and Citadel S-1 Income Trust Fund.

Citadel has also filed a separate joint managemen
information circular in conjunction with Blue Ribbon Fund Management Ltd. for the special meetings to be held for the Blue Ribbon Funds — Citadel Diversified Investment Trust and Series S-1 Income Fund.

Citadel and Blue Ribbon have agreed upon the proposals to be put to unitholders at the special meetings to be held on November 17.

The new meetings follow from discussions Citadel has had with Blue Ribbon in the aftermath of inconclusive special meetings held on September 30, where competing merger proposals from both groups failed to gain sufficient investor approval to pass.

“One thing that was very clear from the September 30 meetings, which we recently held, was that a substantial number of unitholders wished to either redeem their units or merge into a new, larger fund. These proposals will allow unitholders to act upon those wishes,” stated Wayne Pushka, President of the Citadel Funds

The meetings for the Citadel Funds will consider a proposal to offer a special redemption right to unitholders of the Citadel Funds and to merge such funds with the Crown Hill Fund and Equal Weight Plus Fund to form a continuing fund to be named Citadel Income Fund.

The meetings of the Blue Ribbon Funds will consider a proposal from Blue Ribbon to take over the administration of the funds and merge them.

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