Covington News

 

 

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”).

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.

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 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.

Covington Capital Corporation Announces Proposed Acquisition of VenGrowth Investment Funds and New Generation Biotech (Equity) Fund Inc. by Covington Fund II Inc.

October 12, 2010

Covington Capital Corporation (“Covington”) announced today that Covington Fund II Inc. has entered into a Definitive Purchase Agreement with 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 the New Generation Biotech (Equity) Fund Inc. (“NGBE”), whereby Covington Fund II Inc.

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