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Cinram Responds to Amaranth
Tuesday September 19th 2006TORONTO, Sept. 19 /CNW/ – Cinram International Income Fund (the "Fund")(TSX: CRW.UN) announced today that it has responded to the letter received from Amaranth Advisors (Canada) ULC, on behalf of Amaranth Canada Trust, by letter dated September 19, 2006, a copy of which is attached as Schedule "A".
Schedule "A"
VIA EMAIL, ORIGINAL BY COURIER September 19, 2006
Dear Mr. Vourkoutiotis:
Dave Rubenstein has forwarded to me, and the other members of the Board of Trustees of Cinram International Income Fund (the "Fund"), your e-mail letter of September 18, 2006.
As you readily acknowledge in your letter, the selling pressure on the Fund’s units that day was attributable to problems within the Amaranth organization, and was in no way caused by the Fund, which remains on track with its business plans and progress. While we are unaware of, and therefore cannot comment on, your intentions in sending, and publicly disclosing, the letter, I do wish to respond to its suggestion that the Board retain a financial advisor to explore a sale of the Fund. For the record, the Board has no intention of selling, or exploring the possibility of selling, the Fund or any of its operating subsidiaries or their respective businesses. Having said that, I further wish to emphasize that the Board, as it and its predecessors have consistently done, will continue to explore opportunities and strategies for growth and value maximization, with a view to protecting and furthering the long term interests of the Fund and its unit holders, as well of those of its operating subsidiaries and their employees, customers and other stakeholders.
Yours truly,
Henri Aboutboul
Chairman, Board of Trustees
Cinram International Income Fund
%SEDAR: 00023687E
Headline, Industry News
Cinram Responds to Amaranth
Tuesday September 19th 2006TORONTO, Sept. 19 /CNW/ – Cinram International Income Fund (the "Fund")(TSX: CRW.UN) announced today that it has responded to the letter received from Amaranth Advisors (Canada) ULC, on behalf of Amaranth Canada Trust, by letter dated September 19, 2006, a copy of which is attached as Schedule "A".
Schedule "A"
VIA EMAIL, ORIGINAL BY COURIER September 19, 2006
Dear Mr. Vourkoutiotis:
Dave Rubenstein has forwarded to me, and the other members of the Board of Trustees of Cinram International Income Fund (the "Fund"), your e-mail letter of September 18, 2006.
As you readily acknowledge in your letter, the selling pressure on the Fund’s units that day was attributable to problems within the Amaranth organization, and was in no way caused by the Fund, which remains on track with its business plans and progress. While we are unaware of, and therefore cannot comment on, your intentions in sending, and publicly disclosing, the letter, I do wish to respond to its suggestion that the Board retain a financial advisor to explore a sale of the Fund. For the record, the Board has no intention of selling, or exploring the possibility of selling, the Fund or any of its operating subsidiaries or their respective businesses. Having said that, I further wish to emphasize that the Board, as it and its predecessors have consistently done, will continue to explore opportunities and strategies for growth and value maximization, with a view to protecting and furthering the long term interests of the Fund and its unit holders, as well of those of its operating subsidiaries and their employees, customers and other stakeholders.
Yours truly,
Henri Aboutboul
Chairman, Board of Trustees
Cinram International Income Fund
%SEDAR: 00023687E
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Headline, Industry News
Cinram Responds to Amaranth
Tuesday September 19th 2006TORONTO, Sept. 19 /CNW/ – Cinram International Income Fund (the "Fund")(TSX: CRW.UN) announced today that it has responded to the letter received from Amaranth Advisors (Canada) ULC, on behalf of Amaranth Canada Trust, by letter dated September 19, 2006, a copy of which is attached as Schedule "A".
Schedule "A"
VIA EMAIL, ORIGINAL BY COURIER September 19, 2006
Dear Mr. Vourkoutiotis:
Dave Rubenstein has forwarded to me, and the other members of the Board of Trustees of Cinram International Income Fund (the "Fund"), your e-mail letter of September 18, 2006.
As you readily acknowledge in your letter, the selling pressure on the Fund’s units that day was attributable to problems within the Amaranth organization, and was in no way caused by the Fund, which remains on track with its business plans and progress. While we are unaware of, and therefore cannot comment on, your intentions in sending, and publicly disclosing, the letter, I do wish to respond to its suggestion that the Board retain a financial advisor to explore a sale of the Fund. For the record, the Board has no intention of selling, or exploring the possibility of selling, the Fund or any of its operating subsidiaries or their respective businesses. Having said that, I further wish to emphasize that the Board, as it and its predecessors have consistently done, will continue to explore opportunities and strategies for growth and value maximization, with a view to protecting and furthering the long term interests of the Fund and its unit holders, as well of those of its operating subsidiaries and their employees, customers and other stakeholders.
Yours truly,
Henri Aboutboul
Chairman, Board of Trustees
Cinram International Income Fund
%SEDAR: 00023687E
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