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Attention Business Editors
Claymore Announces Exchange Ratio for Merger of Adjustable Rate MBS Trust with Claymore Global Monthly Advantaged Dividend ETF
TORONTO, July 3 /CNW/ - Claymore Investments, Inc. ("Claymore"), the
manager of Adjustable Rate MBS Trust (TSX: ADJ.UN) ("ADJ") and Claymore Global
Monthly Advantaged Dividend ETF (TSX: CYH, CYH.A) ("CYH", and together with
ADJ, the "Funds") is pleased to announce the successful 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, CGL.WT). 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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/For further information: For media inquiries, please contact: Sara
Beazely, (416) 813-2007, sbeazely@claymoreinvestments.ca; or Som Seif,
President, Claymore Investments, Inc., (866) 417-4640,
info@claymoreinvestments.ca, www.claymoreinvestments.ca/
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