Montréal, February 27, 2014 – Following an agreement-in-principle with the Government of Québec, the Board of Directors of the Fonds de solidarité FTQ today enshrined a modification to the interpretation of the “Loss pertaining to principal residence” criterion outlined in its Simplified Prospectus that will allow shareholders whose homes are damaged due to pyrrhotite to redeem their shares. This modification must now be approved by Québec’s Minister of Finance.
Going forward, the interpretation of the “Loss pertaining to principal residence” criterion will be broadened to include not only cases of pyrrhotite but the notions of health and safety of a home’s occupants, as well as its foundation and structure.
The Fonds de solidarité FTQ is would like to underline the work done by Sylvain Arsenault, a Fonds shareholder whose home was damaged by pyrrhotite and who sensitized various organizations to the many challenges confronting such homeowners and the urgency with which they need to act. The Fonds will now be more responsive to its shareholders’ needs in such situations.
For more information, shareholders affected by pyrrhotite can call Shareholder Services at 1 800 567-3663 or through our Web site at www.fondsftq.com/en/contactez-nous/services-aux-actionnaires.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $9.7 billion as of November 30, 2013, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. Its investments, in all sectors of the economy, contribute to the creation and maintenance of businesses and development in Quebec. The Fonds is a partner, either directly or through its network members, in close to 2,400 companies. With its more than 615,000 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect more than 170,000 jobs. For more information, visit www.FondsFTQ.com.
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Information for media representatives only:
Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile : 514 703-5587
Email: pmcquilken@fondsftq.com
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