C.A. Bancorp Inc. (TSX: BKP) Supports PRT Management Inc.'s Proposed Growth Initiative
TORONTO: C.A. Bancorp Inc. (“C.A. Bancorp”), controlling more than 5% of the issued and outstanding trust units of PRT Forest Regeneration Income Fund (the “Fund”), announced today its support of PRT Management Inc. (“PMI”), the manager and administrator of the Fund, in its proposal to initiate a controlled, disciplined and accretive growth strategy to strengthen and diversify the revenue base of the Fund’s wholly owned operating subsidiary, Pacific Regeneration Technologies Inc. (“PRT” or the “Company”).
In conjunction with this proposed change, PMI and C.A. Bancorp together will propose a slate of independent Trustees for election at the Annual General Meeting of unitholders of the Fund to be held on June 26, 2007. The nominee Trustees, if elected, will bring broad and extensive business expertise to the Fund.
PMI and C.A. Bancorp intend to mail a dissident proxy circular to the Fund’s unitholders in early June. The circular will outline the strategy being proposed by PMI and C.A. Bancorp and will provide additional information concerning the proposed new Trustees. Unitholders of the Fund are encouraged to wait until receiving the PMI and C.A. Bancorp proxy material before deciding how to vote at the upcoming Annual General Meeting of the Fund.
C.A. Bancorp Inc.
C.A. Bancorp Inc. is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. The Company is focused on investments in small- and middle-capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors.
PRT Management Inc. : PMI is the administrator and manager of the Fund and PRT. PMI is owned by executives, managers and employees of PRT.