Covington News

 

 

Covington Venture Fund Receives Shareholder Approval for Consolidation of Class A Shares Series I, II, III Assets with Class A Shares Series IV Assets and Class A Share Series V Assets

December 6, 2011

Covington Capital Corporation, the manager of Covington Venture Fund Inc. (the “Fund”) announced that at the annual and special meeting of shareholders of the Fund completed on December 16, 2011, shareholders passed a special resolution approving the consolidation of the pool of assets owned for holders of Class A Shares Series I, II, III (“Series I, II, III Assets”) with the pool of assets owned for holders of Class A Shares Series IV (the “Series IV Assets”) and the pool of assets owned for holders of Class A Shares Series V (“the “Series V Assets”).

Covington Acquisition of VenGrowth and New Generation Biotech (Equity) Funds Successfully Closes

September 6, 2011

Covington Capital Corporation and the VenGrowth Funds today announced the successful closing of the transaction by which Covington Fund II Inc. acquired the assets of New Generation Biotech (Equity) Fund Inc. (“NGBE) and The VenGrowth Investment Fund Inc., The VenGrowth II Investment Fund Inc., The VenGrowth III Investment Fund Inc., The VenGrowth Advanced Life Sciences Fund Inc., and The VenGrowth Traditional Industries Fund Inc. (collectively the “Funds”).

New Generation Biotech (Equity) Fund Inc. Shareholders Approve Sale of Assets to Covington Fund II Inc.

August 25, 2011

Covington Capital Corporation (“Covington”) announced today that as part of the New Generation Biotech (Equity) Fund Inc’s (“NGBE”) special meeting, shareholders of NGBE approved the sale of all of its assets to Covington Fund II Inc. (“Covington Fund II”) in exchange for Class A shares of Covington Fund II Also today, VenGrowth Asset Management Inc.

Covington Fund II Inc. Shareholders Approve Purchase of Assets of the VenGrowth Investment Funds and New Generation Biotech (Equity) Fund Inc.

August 25, 2011

Covington Capital Corporation (“Covington”) announced today that as part of the Covington Fund II Inc. (the “Fund”) special meeting, shareholders of the Fund approved the purchase of assets (the “Acquisition”) of The VenGrowth Investment Fund Inc., The VenGrowth II Investment Fund Inc., The VenGrowth III Investment Fund Inc., The VenGrowth Advanced Life Sciences Fund Inc., and The VenGrowth Traditional Industries Fund Inc. (collectively the “VenGrowth Funds”) and New Generation Biotech (Equity) Fund Inc. (“NGBE”) in exchange for Class A shares of the Fund.

Covington Capital Corporation Announces $5 Million Toward The VenGrowth Transaction

November 19, 2010

Covington Capital Corporation (“Covington”) announced today that it has agreed to pay $5 million toward termination costs associated with the acquisition of the five VenGrowth Funds.

In addition to Covington’s $5 million, it will still honour the lower management fee structure that it negotiated with the Board of Directors of the VenGrowth Funds and outlined in the Information Circular.

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