Citadel Income Fund Uncovers Undisclosed Group Activities by Dissidents; Cancels Requisitioned Unitholder Meeting, Offers Redemption Opportunity and Increases Monthly Distributions

TORONTO, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Citadel Income Fund (TSX – CTF.UN) (the “Fund”) announced today that the trustee and manager of the Fund, Artemis Investment Management Limited (“Artemis”), has learned through discussions with the Unitholders of the Fund (the “Unitholders”) that certain Unitholders have apparently acted jointly and in concert with certain other Unitholders (together the “Dissidents”) in connection with Saba Capital Management L.P.’s exploitative, short-sighted and self-serving proposal to, among other things, replace the trustee and manager of the Fund with the Dissidents’ preferred trustee and manager, approve payment of a $100,000 management fee, and then windup and terminate the Fund (the “Dissident Proposals”).

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