Results of the Citadel Income Fund Special Meeting of Unitholders and Next Steps

    




 CTF.UN 

 TORONTO, Aug. 7, 2012 /CNW/ - Crown Hill Capital Corporation, the  manager and trustee (the "Manager") of Citadel Income Fund (the "Fund")  announces that unitholders (the "Unitholders") of the Fund at a special  meeting of Unitholders held on  August 7, 2012 approved an  extraordinary resolution, as set out in Appendix "A" to the management  information circular of the Fund dated July 4, 2012 authorizing  amendments to the amended and restated declaration of trust of the Fund  amended and restated as of June 12, 2006, June 4, 2008, June 6, 2008,  September 26 2008, December 31, 2008, and December 2, 2009 and December  2, 2010 (the "Declaration of Trust") including amendments which provide  for a special retraction on a date to be set from time to time (a  "Special Retraction Date") at 100% of the net asset value per unit  ("Unit") of the Fund on the Special Retraction Date less retraction  costs which include a fee per Unit of 5% of the net asset value per  Unit on the Special Retraction Date plus any applicable taxes (the  "Special Retraction Price"). 

 The Special Retraction Date is set for August 17, 2012.  The Special  Retraction on such date will be unlimited. The Manager will issue a  press release setting out the net asset value per Unit at the close of  business on the Special Retraction Date and the Special Retraction  Price.  The Special Retraction Price is expected to be paid on August  22, 2012. 

 Certain statements contained in this news release constitute  forward-looking information within the meaning of Canadian securities  laws. Forward-looking information may relate to matters disclosed in this  press release and to other matters identified in public filings  relating to the Fund, to the future outlook of the Fund and anticipated events or  results and may include statements regarding the future financial  performance of the Fund. In some cases, forward-looking information can be  identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential",  "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking  information. 

Citadel Income Fund


CONTACT:  please contact the Investor Relations department at 416.361.9673ortoll-free at 1.877.261.9674. 


    

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