TORONTO, ONTARIO--(Marketwire – January 18, 2016) – Covington Fund II Inc. (“The Fund”) announced today that it has received over $42 million in shareholder redemption requests since September 1, 2015, including over $24 million since being re-opened on January 18, 2016. The Fund has redeemed over 20% of its net asset value as of August 31, 2015, and will not be accepting further redemption requests at this time.
TORONTO, ONTARIO--(Marketwire – December 16, 2015) – Covington is pleased to announce that the Board of Directors of Covington Fund II Inc. (the “Fund”) has approved the re-opening of the Fund for redemptions as of January 18, 2016 at 10:00am.
Covington Fund II Inc. (“Cov II” or the “Fund”) announced today that it has halted redemptions of the Fund as a result of significant and increasing requests for redemptions since the Fund recently opened its restricted share series on September 2, 2015. All redemption requests processed prior to the close of business on September 4th, 2015 are being honoured.
Covington Capital Corp. (“Covington”) announced today that Covington Venture Fund Inc. (“Covington Venture Fund”) has entered into an agreement with Covington Fund II Inc. (“Covington Fund II”) for the en bloc sale of the venture portfolio attributable to the Class A shares Series I, II, III, IV, and V (the “Series”) and that Covington Venture Fund will propose the subsequent wind up of the Series. The proposed sale and wind up remains subject to shareholder approval.