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Q. I tried
to place a trade for APV 100 (or APV 200) and was told the Fund
is closed. What happened? Why?
A. The Fund has been closed to purchases in anticipation of
an information circular being mailed to all shareholders outlining
a proposed plan to convert the Algonquin Power Venture Fund
(the “Fund”) from its current status as a Labour Sponsored Venture
Capital Corporation (“LSVCC”) to that of any exchange listed
public corporation. The information circular will provide details
in keeping with the board’s decision as announced via a Canada
NewsWire press release dated January 31st, 2007. As indicated
in the news release the Special Meeting of shareholders will
held on or about May 8th, 2007.
back to top Q. When will we receive
the Information Circular and when will the Special Meeting be
held?
The Information Circular is being drafted at this time and
will be available for distribution at least 21 days prior to
the special meeting of the shareholders (on or about May 8th,
2007).
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I want to redeem my shares now. What are the consequences?.
As indicated in the Canada NewsWire press release of January
31st, 2007, redemptions remain subject to the full provincial
and federal tax credit clawback (i.e. 30%) until such time as
the Fund receives regulatory and shareholder approval to effect
the conversion.
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(from Dealer): Will you accept
a trade with a Letter of Indemnity since trade was delayed due
to an administrative error? (also applies to backdates and corrections)?
Yes, send LOI to Citigroup in the normal manner
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Will PACs continue to run after
February 1, 2007?
All PACs will be stopped on February 1, 2007
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(from Advisor) What about T2033s
that are in progress, i.e. that the relinquishing institution
has not yet sent the funds to Citigroup?
Since the Fund is now closed, it’s preferable that you find
another investment for your client..
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