Proposed Change of Manager of Redwood Energy Growth Class
November 6, 2013
TORONTO, ONTARIO–(Marketwired – Nov. 6, 2013) – Redwood Asset Management Inc. (“Redwood”) and Aston Hill Asset Management Inc. (“Aston Hill”) are pleased to announce that they have entered into an agreement dated November 6, 2013 (the “Agreement”) pursuant to which the manager of Redwood Energy Growth Class (the “Fund”), the only outstanding class of mutual fund shares of Ark Resource Corp. (“Ark Corp.”), is proposed to be changed from Redwood to Aston Hill (the “Change of Manager”), subject to the receipt of all necessary securityholder and regulatory approvals.
Effective on the Change of Manager, the name of the Fund will be changed by Aston Hill to “AH Energy Growth Class”. There is no intention to change the current investment objectives, strategies or fees and expenses of the Fund.
The proposed Change of Manager will be subject to approval by the securityholders of the Fund at a special meeting to be held on December 13, 2013 (the “Special Meeting”). Prior to the Special Meeting, a notice of special meeting, management information circular and form of proxy will be mailed to securityholders. If approved, the proposed Change of Manager is expected to become effective on or about January 1, 2014 (the “Effective Date”).
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