The Toronto Stock Exchange reports that at a special meeting held on Nov. 7, 2023, Citadel Income Fund unitholders approved an extraordinary resolution authorizing the fund to redeem a total of not less than 7,186,900 units at an amount per unit equal to the net asset value per unit less redemption costs equal to 4.5 per cent of the NAV per unit, plus applicable taxes. According to the TSX, the redemption date for the special retraction has been set for Dec. 7, 2023. If requests for redemptions exceed 7,186,900 units, then the units will be redeemed on a pro rata basis.

The TSX reports that the election to exercise the special redemption must be submitted by 5 p.m. Toronto time on Nov. 16, 2023. Trades in the units on Nov. 15, 2023, and from 9:30 a.m. Toronto time to 12 p.m. Toronto time on Nov. 16, 2023, will settle on Nov. 16, 2023.

As the units of the fund were issued in book-entry-only form and are held through CDS Clearing and Depository Services Inc., the exact procedure for electing the special redemption will be as determined by the broker, dealer, bank, trust company or other nominee through which the unitholder holds units. Unitholders should contact their broker, dealer, bank, trust company or other nominee as soon as possible to confirm their deadline and for instructions on how to exercise the special redemption, if they desire to do so.

For more information, see the fund's management information circular dated Oct. 2, 2023, and its news release dated Nov. 7, 2023, both of which are available on SEDAR+.