Goodman & Co., Investment Counsel Ltd. today announced plans to merge CMP Fund Corp. into the Canada Dominion Resource Fund Ltd., subject to shareholder and regulatory approval.
Goodman and Co. says the proposed merger will create greater economies of scale within the fund, and will allow shareholders to benefit from increased diversification by sector and by market capitalization. In addition, shareholders would benefit from increased liquidity.
The merger would also allow former CMP shareholders to become part of the larger Dynamic Mutual Fund family.
Shareholders of CMP will be asked to approve the merger at an annual and special meeting of shareholders of CMP to be held on Dec. 22, 2004. If approved, the merger will take effect after the close of business on a date to be determined by Goodman & Co., currently expected to be December 30, 2004.
In addition, shareholders of CDR will be asked to approve certain amendments to the articles of CDR, as follows:
- CDR will be renamed Dynamic Managed Portfolios Ltd.;
- The existing class of shares currently offered to investors by CDR will be re-designated as the DMP Resource Class. All the shares of CDR, including those issued to CMP shareholders as part of the merger, will become shares of the DMP Resource Class.; and
- Nine additional classes of shares will be created which will provide CDR and Goodman & Company the ability to provide a multi- class investment product to investors in the future.