COVINGTON FUND II INC. ANNOUNCES COMPLETION OF DEALER INITIATED REDEMPTION
TORONTO, Oct. 19, 2022 /CNW/ - Covington Fund II Inc. (the "Fund") announced today that it has completed the Dealer Initiated Redemption that it announced was pending in our press release dated August 31, 2022.
- TORONTO, Oct. 19, 2022 /CNW/ - Covington Fund II Inc. (the "Fund") announced today that it has completed the Dealer Initiated Redemption that it announced was pending in our press release dated August 31, 2022.
- This is being done further to a Special Resolution passed by shareholders earlier this year to amend the articles of the Fund and allow for the redemption by the Fund of the Class A shares outstanding.
- At the close of business Friday October 14th, the Fund's back office provider CI Investments Inc., initiated steps to complete the Redemption by the Fund of all outstanding Class A shares.
- Covington Group of Funds has managed several Labour Sponsored Investment Funds to individual investors throughout Ontario including Covington Fund I, Covington Fund II, Covington Strategic Capital Fund, New Generation Biotech (Equity) Fund Inc., and Covington Venture Fund Inc.