completion of the merger of ADJ with CYH (the “Merger”) as approved by unitholders of ADJ on June 5, 2009.
Pursuant to the terms of the Merger, unitholders of ADJ will receive 1.5988 Advisor Class Units of CYH for each unit of ADJ (the “Exchange Ratio”) held by them. The Exchange Ratio was determined by reference to the relative net asset values of the units of ADJ and CYH on July 2, 2009. The units of ADJ were de-listed from the Toronto Stock Exchange (“TSX”) effective on the close of business on July 2, 2009. The Advisor Class Units of CYH issuable pursuant to the Merger will be listed for trading on the TSX effective July 3, 2009.
ADJ unitholders who chose not to participate in the Merger are entitled to receive a cash payment of $19.48 per ADJ unit redeemed (“redemption price”). The redemption price was determined by reference to the net asset value of the units of ADJ as of June 30, 2009.
All unitholders of ADJ are entitled to receive the June, 2009 distribution of $0.135 per ADJ unit, which distribution is payable on or before July 15, 2009.
About Claymore Investments, Inc.
Claymore Investments, Inc. is a leader in bringing intelligent, low cost exchange traded funds in Canada through its family of 23 ETFs and 3 closed-end funds across broad asset classes including core equity, global sectors, fixed income and commodities and includes the Claymore Gold Bullion Trust (TSX: CGL.UN – News, CGL.WT – News). Claymore Investments, Inc., which, as of May 31, 2009 had approximately $2.2 billion in assets under management, is a wholly-owned subsidiary of Claymore Group, Inc., a financial services and asset management company based in the Chicago, Illinois area. In aggregate, Claymore Group Inc. and its affiliates have approximately 173 employees providing supervisory, management, servicing or distribution services on approximately US$12.4 billion in assets as of May 31, 2009.
For further information about the Funds or Claymore Investments, Inc., please contact your financial advisor or visit our website at www.claymoreinvestments.ca.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Funds’ publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
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