TORONTO, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Goodwood Inc. (“Goodwood”), the manager of Goodwood Capital Fund (the “Fund”), pursuant to an exemptive relief decision obtained from the Ontario Securities Commission, announced today that the Fund has received (a) approval to permit the Fund to suspend for a period of 90 days the right of its unitholders to request that the Fund redeem their units of the Fund (the Suspension of Redemptions); and (b) an exemption from the requirement for the Fund to calculate its net asset value once a week during the period of suspension for the purposes of processing subscriptions and redemptions (the Suspension of NAV Calculations).   

Goodwood believes that it is in the best interest of unitholders to terminate the Fund and intends to commence actions to terminate the Fund. However, the Fund’s termination cannot be effected immediately. In order to protect the interests and ensure the equal treatment of its investors, Goodwood believes that suspending redemptions at this time and proceeding with an orderly wind-up of the Fund is in the best interests of unitholders of the Fund. This will enable the Fund to distribute the maximum amount of assets pro rata to all its unitholders as quickly as possible in an orderly manner and to allocate termination costs equally across the remaining investor base. It will also ensure that all current unitholders are treated in a similar manner in connection with the termination of the Fund, rather than providing an advantage to “first moving” unitholders who are quicker to submit their redemption requests.

Goodwood will not earn or collect management fees from the Fund while the Suspension of Redemptions and the Suspension of NAV Calculations remains in effect. Any request for redemption submitted but not yet filled will be similarly suspended. Goodwood will continue to determine the net asset value of the Fund for purposes other than processing redemptions and subscriptions.

Goodwood will reach out to unitholders of the Fund directly with additional information and communication regarding the process for termination.

Additional information about Goodwood is available at www.goodwoodfunds.com.

Curt Cumming
President, Goodwood Inc.
(416) 203-2522, cscumming@goodwoodfunds.com
Website: www.goodwoodfunds.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.