Citadel Income Fund Announces Opportunity for Unit Redemption
Citadel Income Fund Redemption Announcement
Citadel Income Fund (TSX: CTF.UN) is excited to offer its unitholders a unique opportunity to redeem up to 311,515 units. This announcement opens the door for unitholders to liquidate their holdings, ensuring they can respond to market conditions effectively.
Details of the Annual Redemption
The annual redemption date is set for November 28 of the current year. Units will be redeemed at a price reflecting the net asset value, with a deduction of 5% to cover redemption costs. This approach aligns with the Fund’s declaration of trust available on its SEDAR+ profile.
Redemption Process
Unitholders interested in redeeming their units should act promptly. To initiate the redemption, holders must send a redemption notice to their brokers no later than 5:00 p.m. (Toronto time) on November 7. It’s advisable for unitholders to confirm specific methods with their brokers to ensure compliance with the timelines.
Distribution Information
Units that are submitted for redemption will be eligible to receive the October distribution. This amount, previously announced, is set to be paid out on November 15. Unitholders are encouraged to maximize their benefits by understanding the timeline associated with redemptions and distributions.
Announcement of the Redemption Price
Shortly after the redemption date, around December 6, the Fund will disclose the annual redemption price. Furthermore, the proceeds from the redemptions are expected to be disbursed to eligible unitholders by December 20 of the same year. This structured process ensures transparency and reliability for all participants.
Contact Information
For additional inquiries, unitholders can reach out to Artemis Investment Management Limited, the Fund's manager, at (647) 494-0338 or email at info@artemisfunds.ca. Answers to any queries can help unitholders navigate this redemption process efficiently. Also, more information is available at www.artemisfunds.ca.
Frequently Asked Questions
What is the annual redemption opportunity for Citadel Income Fund?
The opportunity allows holders to redeem up to 311,515 units, with redemption requests processed based on pro-rata allocation if requests exceed availability.
When is the redemption date for unitholders?
The annual redemption date is scheduled for November 28 of the current year.
How should unitholders notify for redemption?
Unitholders must submit a redemption notice to their brokers by November 7 at 5:00 p.m. (Toronto time).
Will unitholders receive any distributions during this process?
Yes, units tendered for redemption will qualify for the October distribution payable on November 15.
How will unitholders know the redemption price?
The Fund will announce the redemption price around December 6, with proceeds distributed to unitholders by December 20.
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