Dominion Lending Centres Clearlease Reports CI Financial (TSX:CI) shareholders formally renew poison pill plan opposed by Scotiabank

Dominion Lending Centres Clearlease Reports CI Financial (TSX:CI) shareholders formally renew poison pill plan opposed by Scotiabank

VANCOUVER, BC (June 1, 2011) Dominion Lending Centres Clearlease Reports Shareholders of CI Financial Corp. have formally renewed a poison-pill plan opposed by major shareholder Scotiabank.

The shareholder rights plan will now stay in place until 2014 after being renewed at a meeting at CI Financial’s offices Wednesday.

It’s the latest victory for mutual fund company CI (TSX:CI) in its battle against Scotiabank, which owns about a third of the company.

Last week, the Ontario Securities Commission ruled in CI’s favour, preventing Scotiabank from casting votes at the meeting.

CI Financial had been worried that Scotiabank would vote to get rid of provisions that prevent a “creeping takeover,” where someone would take control of the company by gradually buying additional shares.

The bank had originally voted in favour of the poison-pill plan when it was first adopted but later said it wanted a plan that was less restrictive.

CI announced last week that it already had enough advance votes in favour of renewing the plan — guaranteeing that it would pass at a meeting Wednesday.

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About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/ is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Twitter: @clearlease


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