Brompton Completes Merger of Goldman Sachs U.S. Income Builder Trust with Symphony Floating Rate Senior Loan Fund
TORONTO, ONTARIO–(Marketwired – Feb. 8, 2018) - (TSX:GSB.UN)(TSX:SSF.UN) – Brompton Funds Limited is pleased to announce the completion of the merger (the “Merger”) of Goldman Sachs U.S. Income Builder Trust (“GSB”) into Symphony Floating Rate Senior Loan Fund (“SSF” and, together with GSB, the “Funds”), effective February 8, 2018. The Merger was approved at a special meeting of unitholders of GSB held on December 13, 2017.
The Merger was implemented using exchange ratios calculated based on the relative net asset value (“NAV”) per class A unit or class U unit of each of GSB and SSF, each determined as at the close of business on February 6, 2018. The table below provides the NAV per class A and class U unit for each of the Funds and the exchange ratio at such time.
|Class A Units||Class U Units|
|GSB NAV per class A unit||$8.2362||GSB NAV per class U unit||USD$8.0508|
|SSF NAV per class A unit||$8.8876||SSF NAV per class U unit||USD$8.5896|
|Exchange Ratio||0.926707||Exchange Ratio||0.937273|
Unitholders of GSB are not required to take any action in order to be recognized as unitholders of SSF. Class A units of SSF issued to former holders of class A units of GSB pursuant to the Merger will continue to trade on the Toronto Stock Exchange under the symbol SSF.UN.
About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton’s investment solutions include TSX traded funds, mutual funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email email@example.com or visit our website at www.bromptongroup.com.
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