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Fisher Controls Inc.
(now Emerson Canada)
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For more information you may send us an
e-mail or call us at 1-800-286-2266. |
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Updated: May 22, 2008
In our last update of April 2, 2008 (click here
to view), we explained that an important term to the Proposal is that it is
conditional on the Committee obtaining a threshold of support from enough
members of both partial wind up groups (or persons claiming through them), who
are entitled in the aggregate to at least ninety per cent (90%) of the surplus
regarding each partial wind up, indicating that they are in favour of this
Proposal.
Your Committee thanks you for your support and is pleased to announce that the
Company has confirmed that the required number of Full and Final Releases have
been received. An equal number of Authorizations and Retainers have been
received. As of the May 15, 2008 deadline set out in the Member Report, the
Proposal has the unanimous support of all 77 Woodstock Members, and of 42 of
the 44 Cambridge Members.
As a result of this very high level of support, the Proposal is now proceeding
to the next phase. The next steps to implement the Proposal include a number of
regulatory filings including actuarial valuations and plan amendments. Approval
of the Financial Services Commission of Ontario will also be required. Member
election forms concerning the Benefit Enhancement Options will be sent out, at
the very earliest, in the summer or early fall.
If no unanticipated obstacles arise during the course of the foregoing, we
remain optimistic that the surplus will be distributed to members by the end of
2008.
If you have any questions about the Proposal, please contact Koskie
Minsky LLP at 1-800-286-2266 or at
fisherpension@kmlaw.ca. You may also contact Koskie
Minsky LLP by facsimile at 416-204-2897, or by writing to us at:
Fisher Salaried Employees' Pension Surplus Committee, c/o Koskie Minsky LLP, 20
Queen Street West, Suite 900, Box 52, Toronto, ON, M5H 3R3.
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