Landry Investment Management announces changes in its officers and directors, redesignation of certain classes of units and changes of names of the Landry Morin Funds
MONTREAL, Feb. 15, 2013, 2013 (Canada NewsWire via COMTEX) --
Landry Investment Management Inc.
announced today the following changes:
New Chief Financial Officer
Effective February15, 2013, Kit Dalaroy is appointed as Chief Financial
Officer of Landry Investment Management Inc.; Benoit Perraton Brillon,
who previously held this position, remains the Chief Investment Officer
of the firm.
Changes in Directorship
Effective February15, 2013, Mrs. Colette Bournival, Messrs. Nathan
Bossen and Germain Carrière stepped down as directors of Landry
Investment Management Inc., while Mr.Pierre Simard joined the board,
as well as Messrs.Benoit Perraton Brillon, the firm's Chief Investment
Officer, and FrederickT. Pye, VicePresident at Landry Investment
"I would like to thank Nathan Bossen, Germain Carrière and Colette
Bournival for their contribution and commitment to the firm over the
past few years. Mrs.Bournival will serve as Secretary of the firm and
remains the firm's VicePresident, Private Management and Chief
Compliance Officer." stated Jean-Luc Landry, Chairman and Chief
Executive Officer of Landry Investment Management Inc.
Change in Names and Redesignation of Certain Classes of Units
As of the date of the next renewal prospectus of the Landry Morin Funds,
which should be on or about April5, 2013 (the "Effective Date") (i)the ClassB Units of the Landry Morin Canadian Dividend Plus Fund
(the "Dividend Plus Fund") will be renamed as ClassA Units and (ii)the ClassG Units of the
Dividend Plus Fund will be renamed as ClassF Units.
On the Effective Date (i)the ClassB Units of each of the Landry Morin
Canadian Momentum Fund, Landry Morin World Momentum Fund and Landry
Morin U.S. Momentum Fund (the "Momentum Funds") will be redesignated as ClassA Units and (ii)the ClassG Units of
each of the Momentum Funds will be redesignated as ClassF Units.
In connection with the aforementioned changes: (i)unitholders will
receive units of the same value; (ii)the management fee of the new
ClassA Units or ClassF Units will be less than that of the ClassB
Units or ClassG Units; (iii)except for the lower management fee, the
ClassA Units and the Class FUnits have the same rights and attributes
as the ClassB Units and the ClassG Units; (iv)these changes will be
effected at no cost to unitholders of the Dividend Plus Fund and the
Momentum Funds; (v)no change should be considered a disposition for
tax purposes; (vi)the sales charge and commissions payable to dealers
and brokers, if any, will remain the same; and (vii)there will be no
modification to any of the Funds' investment objectives or strategies.
Change of Name of the Dividend Plus Fund and the Momentum Funds (the
On the Effective Date, the Funds will change names, which new names will
be aligned with the name of the portfolio manager and investment fund
manager of the Funds and, for certain Funds, the new names will provide
improved clarity and better reflect their mandates. The changes to the
names of the Funds are set out in the table below:
| Existing name | New name |
|Landry Morin Canadian Momentum |Landry Canadian Equity Fund |
|Fund | |
|Landry Morin World Momentum Fund|Landry Global Equity Fund |
|Landry Morin U.S. Momentum Fund |Landry U.S. Equity Fund |
|Landry Morin Canadian Dividend |Landry Canadian Dividend Plus Fund|
|Plus Fund | |
About Landry Investment Management Inc.
Landry Investment Management is the investment fund manager of the
Landry Morin Family of funds. The firm also offers discretionary
portfolio management to private clients, pension funds, foundations and
endowment funds. Landry Investment Management is regulated by the
Autorité des marchés financiers.
SOURCE: Landry Investment Management Inc.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2013/15/c6175.html
SOURCE: Landry Investment Management Inc.
Jean-Luc Landry Chairman and Chief Executive Officer Landry Investment Management
Inc. Tel.: (514) 985-1138, ext. 205 email@example.com
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