Starlight Hybrid Global Real Assets Trust (NEO: SCHG.UN) Announces Reorganization Proposal
TORONTO – (COMMERCIAL THREAD) – Starlight Hybrid Global Real Assets Trust (the “Trust“) announced today that the Board of Trustees of the Trust, together with Glen Hirsh, an officer of a related entity of Starlight Investments Capital GP Inc., the manager of the Trust (the”Director“), by abstaining, approved a proposal to reorganize the Trust into a private investment trust (the”Reorganizationâ), As described below, subject to the approval of Unitholders. Holders (the “Unitholdersâ) Series A units (âSeries A unitsâ) And C series units (âSeries C units“, And with Series A units, the”Units“) will be invited to vote on the proposal at a special meeting of unitholders to be held at 1:00 p.m. (Toronto time) on July 28, 2021 only as a virtual meeting (online) by means of a live audio webcast (the “Meeting“). A Management Information Circular containing information about the Meeting and the Reorganization will be mailed to Unitholders of record in June 18, 2021.
The Manager has determined that it would be in the best interests of the unitholders to implement the reorganization and to pursue the Trust in a private capacity by delisting the Series A units from the Neo Bourse and redesigning all the Series A units. in Series C units to increase the capital raising capacity of the Trust; modify the Trust’s investment strategy and investment restrictions to increase the Trust’s private investment limit in order to reduce public safety volatility and take advantage of private investment opportunities; and make certain structural changes to the Trust appropriate for a private investment trust, including a change in the redemption characteristics and management fees payable to the manager of the Trust.
If the reorganization is approved by the unitholders and implemented, the Trust will continue to be managed by the same investment team. Although the Trust is a private investment trust and the Units are only offered in a private placement, the Manager will continue to publish the net asset value of the Units on a monthly basis, publish interim and annual financial statements as well as the report. management, and will prepare and publish other continuous disclosure documents on its website and on SEDAR. In addition, the Trust will continue to bring conflict of interest matters to its independent trustees.
For the reorganization to take effect, it must be approved by at least 662/3% of the votes cast by unitholders present or represented by proxy at the meeting. If approved, the reorganization is expected to be implemented on or around August 20, 2021.
Further information regarding the reorganization will be contained in a management information circular which will be publicly filed and mailed to Unitholders of record on June 18, 2021, on or about June 30, 2021.
About Starlight Hybrid Global Real Assets Trust
The investment objective of the Trust is to provide Unitholders with stable monthly cash distributions and long-term capital appreciation through exposure to institutional grade real assets in the global real estate sectors. and global infrastructure. Additional information about the Trust is available on Starlight Capital’s website at www.starlightcapital.com or www.sedar.com.
About Starlight Capital and Starlight Investments
Starlight Capital is an independent asset management company offering mutual funds, exchange traded funds, memorandum funds and structured products. Our goal is to provide investors with superior risk-adjusted returns through a disciplined investment approach, Focused Business Investing. Starlight Capital is a wholly owned subsidiary of Starlight Investments. Starlight Investments is a private full-service real estate investment and asset management company. The company manages over $ 20.0 billion in assets on behalf of institutional joint ventures as well as publicly traded REITs, closed-end funds and investment funds and is led by an experienced team of over 300 professionals. Please visit us at www.starlightcapital.com and connect with us on LinkedIn.