Pender Growth Fund Reorganization of Shares

On March 1, 2010 Pender Growth Fund VCC was “capped” and closed to new investors. Shareholders now hold a mature portfolio of investments, which will not be subject to future dilution or the costs associated with continuing to raise money.

On May 31, 2010 shareholders voted to pass all of the special resolutions for the new capital structure. To see the full press release, click here.

The new structure will provide shareholders with the ability to maximize returns and the opportunity for earlier liquidity.

New Structure

Under the reorganization each current PGF share will be split into two shares:

PGF Redemption Share (80%)

• Eligible to be paid out at a fixed face value as liquidity events occur in the fund (beginning five years from your original purchase date).
• Convertible into PGF Common Shares at any time.

PGF Common Share (20%)

• Trades on the TSX:V like other common stocks.
• Shareholders may sell their position at any time.

To further demonstrate its commitment to the success of Pender Growth Fund’s new structure, the Manager has agreed to waive all performance fees until all outstanding PGF redeemable shares have been paid out or converted.

Contact Us

If you have any questions or would like more information, please contact: Rachelle Hodgson, 604-630-5452, rhodgson@penderfund.com