PenderFund Capital Management Announces Arrangements To Address Mailing Delays Resulting From Canada Post Strike

VANCOUVER, British Columbia, Oct. 01, 2025 (GLOBE NEWSWIRE) -- PenderFund Capital Management Ltd. (“Pender”) announced today that the ongoing Canada Post labour disruption will impact Pender’s delivery of meeting materials to its unitholders in respect of the special meetings of certain classes of its mutual funds (“Funds”), scheduled to be held in a virtual only meeting format commencing at 9:00 a.m. (Vancouver time) on October 31, 2025 (the “Meetings”).

Pender was required to have delivered today to unitholders of the affected classes, among others, its notice-and-access notification, management information circular (the “Circular”) and form of proxy (collectively, the “Meeting Materials”) in order to meet its delivery obligations under National Instrument 81 – 106 Investment Fund Continuous Disclosure.

In light of the postal strike, Pender has sought an exemption from the British Columbia Securities Commission and the Ontario Securities Commission from mailing the Meeting Materials to its unitholders on certain conditions, including that Pender will:

1. make electronic copies of the Meeting Materials available on SEDAR+ at www.sedarplus.ca;
2. provide copies of the Meeting Materials by email to each entitled unitholder who requests same while the postal strike is ongoing, at no charge; and
3. commit to respond to any unitholder inquiries within 2 business days of such inquiries.
   
   

There is no assurance that the exemptive relief will be granted. If Pender is unable to obtain the requested exemption, the Meeting will be postponed or rescheduled once the postal strike is resolved.

At the Meeting, unitholders of the affected classes of Pender’s Funds will be asked to (i) consider, and if determined advisable to approve, a resolution changing the management fee being charged to such affected class, (subject to a concurrent reduction of the administration fee applicable to the class, as specified and further described in the Circular, such that unitholders will experience either no change or an overall reduction in combined fees than they are currently paying) and approving such other steps as may be necessary or desirable to give effect to the resolution; and (ii) transact such further or other business as may properly come before the Meeting any adjournment thereof.

How to Access Meeting Materials

Pender is using notice-and-access in respect of the Meetings. Unitholders may access Meeting Materials on SEDAR+ at www.sedarplus.ca and on Pender’s website at https://www.penderfund.com/legal-financial/. Unitholders of the affected classes are encouraged to access the Meeting Materials directly through the above-mentioned websites, or contact the Computershare Investor Services Inc.’s (“Computershare”) using the contact information noted below to request a copy of the Meeting Materials.

Pender can also provide copies of the Meeting Materials by email to each eligible unitholder who requests the same while the postal strike is ongoing, at no charge, within two (2) business days of such requests. Unitholders can submit their requests by emailing Pender at info@penderfund.com.

In the event that the postal strike ends prior to the Meeting, Pender will mail the Meeting Materials in the normal course, but there can be no assurance that the Meeting Materials will be received by unitholders prior to the Meetings.

How to Vote

Unitholders of record of the affected classes as of the close of business on September 17, 2025 are entitled to receive notice of, to participate in and to vote their units at the Meeting. Details of how unitholders can attend, access and participate in the Meetings are set out in the Meeting Materials.

Eligible unitholders and their duly appointed proxy holders may participate in the Meeting via a live teleconference by pre-registering via the following link prior to 4:00 pm (Vancouver time) on October 30, 2025 or, if the Meeting is adjourned or postponed, not less than 48 hours (excluding Saturdays, Sundays and holidays) before the time and date of the adjourned or postponed Meeting:

https://dpregister.com/sreg/10203381/1000a02e900

After the pre-registration has been completed, eligible unitholders and duly appointed proxy holders will be assigned a unique PIN and dial-in telephone number. It is recommended that you attempt to connect at least ten minutes prior to the scheduled start time of the Meetings.

Unitholders who have questions or need assistance with respect to the pre-registration process as further described in the Meeting Materials or accessing or attending the virtual Meetings should contact canada@choruscall.com, Attention: Gaylene Van Dusen.

While the option is available for eligible unitholders to attend and vote at the Meeting via live audio conference call by following the instructions set out in the Meeting Materials, all such unitholders are strongly encouraged to vote by proxy in advance of the Meeting. As a result of the postal strike, it is recommended that any physical forms of proxy be delivered via hand or courier (other than Canada Post) to ensure that they are received in a timely manner.

Unitholders may contact Computershare’s Shareholder Enquiry Line 1-800-564-6253 (toll free in Canada and the United States) between 8:30 am and 8:00pm Eastern Time or 514-982-7555 or email at service@computershare.com to request voting control numbers for voting online at www.investorvote.com.

As a result of the postal strike, Pender has extended its original proxy-cut off time of 9:00 am PST on October 28, 2025 to the close of business at 4:00 pm PST on October 30, 2025, being the close of business on the business day immediately prior to the date of the Meetings.

Unitholder Questions and Assistance

Unitholders may contact Computershare’s Shareholder Enquiry Line 1-800-564-6253 (toll free in Canada and the United States) between 8:30 am and 8:00 pm Eastern Time or 514-982-7555 or email at service@computershare.com to request copies of the Meeting Materials or voting control numbers for voting online at www.investorvote.com.

Unitholders may also contact Pender with respect to any questions or if they need any assistance by contacting Pender at 1-866-377-4743 or at info@penderfund.com. Pender will respond to any Unitholder inquiries during the postal strike within two (2) business days of such inquiries.

Class Closures

Further to Pender’s news release on September 15, 2025, Pender also announces that as a result of the postal strike the proposed closure of certain classes of its Funds (the “Terminating Classes” and collectively, the “Class Closures”) may be postponed to allow Pender to provide sufficient notice to affected unitholders. Under the Class Closures, unless a unitholder of a Terminating Class elects to redeem his or her units, the units in the Terminating Class will be converted into units of another class of the same Fund (the “Continuing Class”). In connection with the Class Closures, Pender has reduced the minimum subscription amounts for the Continuing Classes and will close the Terminating Classes effective October 3, 2025 or such later date as Pender may determine in light of the postal strike.

About PenderFund Capital Management Ltd.

Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage a suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal.

Please visit www.penderfund.com.

Please read important disclosures at www.penderfund.com/disclaimer.

For further information, please contact:

Melanie Moore
Vice President of Marketing, PenderFund Capital Management Ltd.
mmoore@penderfund.com
(604) 688-1511
Toll Free: (866) 377-4743

Forward-Looking Information

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “expect”, “proposed” or “intend” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, without limitation, statements regarding the affect of the postal strike, the requested exemptive relief, statements regarding the Meetings generally and statements regarding the Class Closures and the timing thereof. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of the manager at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include, among other things: uncertainty as to when and if the regulators will grant the requested exemptive relief, uncertainty as to when the postal strike will end, and general political and social uncertainties.

In making the forward-looking statements in this news release, Pender has applied several material assumptions, including without limitation, that the timely receipt of an order granting the exemption sought from the regulators; and the current and future social, economic and political conditions. Although Pender has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those expressed or implied in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Pender does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. Readers are encouraged to read the Funds’ continuous disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.

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