News Column

Global Infrastructure Dividend Fund Announces Exchange Ratios

July 10, 2014

CALGARY, July 10, 2014 /CNW/ - Middlefield Group, on behalf of Global Infrastructure Dividend Fund (the "Fund"), is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the final prospectus of the Fund dated June 27, 2014.

The Fund's investment objectives are to provide holders of units with:

(i)   stable monthly cash distributions; and

(ii)  long-term total return through distributions and capital appreciation of the Fund's investment portfolio;

through an investment strategy which focuses on a diversified, actively managed portfolio comprised primarily of dividend-paying global issuers that own, develop, operate, support or maintain assets or businesses related to infrastructure, energy transportation or real estate.

The initial target distribution yield for the Fund is 6.0% per annum based on the original subscription price (or $0.05 per unit per month or $0.60 per unit per annum).

The number of units issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ending on July 10, 2014 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $10.00. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of units and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio will be rounded down to five decimal places.

The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Fund pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratio.

Name

Ticker

CUSIP

ISIN

VWAP

Exchange Ratio

Utilities











Algonquin Power & Utilities Corp.

AQN

015857105

CA0158571053

8.0449

0.80449

Brookfield Renewable Energy Partners LP/CA

BEP.UN

G16258108

BMG162581083

31.4882

3.14882

Capital Power Corporation

CPX

14042M102

CA14042M1023

26.0881

2.60881

Emera Inc.

EMA

290876101

CA2908761018

34.0921

3.40921

Enbridge Income Fund Holdings Inc.

ENF

29251R105

CA29251R1055

27.6499

2.76499

Fortis Inc/Canada

FTS

349553107

CA3495531079

32.5869

3.25869

Fortis Inc/Canada - Depositary Receipt

FTS.IR

349553AH0

CA349553AH05

38.9865

39.55636*

Keyera Corp.

KEY

493271100

CA4932711001

77.5010

7.72860

TransAlta Corp.

TA

89346D107

CA89346D1078

12.7977

1.27977

Real Estate











American Hotel Income Properties REIT LP

HOT.UN

026695106

CA0266951064

10.3418

1.03418

Artis Real Estate Investment Trust

AX.UN

04315L105

CA04315L1058

15.5086

1.55086

Calloway Real Estate Investment Trust

CWT.UN

131253205

CA1312532056

26.0757

2.60757

Canadian Apartment Properties REIT

CAR.UN

134921105

CA1349211054

22.8929

2.28929

Canadian Real Estate Investment Trust

REF.UN

13650J104

CA13650J1049

45.0871

4.50871

Chartwell Retirement Residences

CSH.UN

16141A103

CA16141A1030

10.6470

1.06470

Cominar Real Estate Investment Trust

CUF.UN

199910100

CA1999101001

18.6774

1.86774

Crombie Real Estate Investment Trust

CRR.UN

227107109

CA2271071094

13.2522

1.32522

CT Real Estate Investment Trust

CRT.UN

126462100

CA1264621006

11.3392

1.13392

Dream Global Real Estate Investment Trust

DRG.UN

26154A106

CA26154A1066

9.4754

0.94754

Dream Office Real Estate Investment Trust

D.UN

26153P104

CA26153P1045

29.0853

2.90853

FAM Real Estate Investment Trust

F.UN

302401104

CA3024011049

8.7212

0.87212

H&R Real Estate Investment Trust

HR.UN

404428203

CA4044282032

22.9782

2.28657

Milestone Apartments Real Estate Investment Trust

MST.UN

59934P101

CA59934P1018

10.6298

1.06298

Northern Property Real Estate Investment Trust

NPR.UN

665624110

CA6656241107

28.5928

2.85928

Pure Industrial Real Estate Trust

AAR.UN

74623T108

CA74623T1084

4.5977

0.45977

Regal Lifestyle Communities Inc.

RLC

75882T101

CA75882T1012

8.1397

0.81397

RioCan Real Estate Investment Trust

REI.UN

766910103

CA7669101031

26.8098

2.68098

True North Apartment Real Estate Investment Trust

TN.UN

89784X136

CA89784X1362

8.1926

0.81926

Energy











AltaGas Ltd.

ALA

021361100

CA0213611001

49.1188

4.91188

Calfrac Well Services Ltd.

CFW

129584108

CA1295841086

21.1572

2.11572

Enbridge Inc.

ENB

29250N105

CA29250N1050

50.5269

5.05269

Ensign Energy Services Inc.

ESI

293570107

CA2935701078

17.2226

1.72226

Gibson Energy Inc.

GEI

374825206

CA3748252069

33.5732

3.35732

Innergex Renewable Energy Inc.

INE

45790B104

CA45790B1040

10.7975

1.07975

Inter Pipeline Ltd.

IPL

45833V109

CA45833V1094

32.3910

3.22835

Pembina Pipeline Corp.

PPL

706327103

CA7063271034

45.0637

4.50637

Precision Drilling Corp.

PD

74022D308

CA74022D3085

14.9960

1.49960

Secure Energy Services Inc.

SES

81373C102

CA81373C1023

23.0975

2.30975

TransCanada Corp.

TRP

89353D107

CA89353D1078

51.5535

5.15535

Trican Well Service Ltd.

TCW

895945103

CA8959451037

17.1138

1.71138

Veresen Inc.

VSN

92340R106

CA92340R1064

19.0756

1.90756

Industrials











Aecon Group Inc.

ARE

00762V109

CA00762V1094

16.8035

1.68035

Canadian National Railway Co.

CNR

136375102

CA1363751027

69.8772

6.98772

Canadian Pacific Railway Ltd.

CP

13645T100

CA13645T1003

195.7029

19.57029

Finning International Inc.

FTT

318071404

CA3180714048

30.8973

3.08973

Newalta Corp.

NAL

65020P103

CA65020P1036

20.6482

2.06482

SNC-Lavalin Group Inc.

SNC

78460T105

CA78460T1057

55.6824

5.56824

Funds











ENERGY INDEXPLUS Dividend Fund

IDE.UN

29271G105

CA29271G1054

12.0254

1.20254

iShares S&P/TSX 60 Index ETF

XIU

46428D108

CA46428D1087

21.8259

2.18259

Other











Labrador Iron Ore Royalty Corp.

LIF

505440107

CA5054401073

30.8220

3.08220

MacDonald Dettwiler & Associates Ltd.

MDA

554282103

CA5542821031

84.6914

8.46914

Superior Plus Corp.

SPB

86828P103

CA86828P1036

14.0345

1.40345

Westshore Terminals Investment Corp.

WTE

96145A200

CA96145A2002

32.4936

3.24936



 

*Based on an exchange per $1,000 of face value for each depositary receipt

The syndicate of agents is being co-led by CIBC, RBC Capital Markets and Scotiabank and includes BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Raymond James Ltd., Middlefield Capital Corporation, Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated.

This offering is only made by prospectus.  The prospectus contains important detailed information about the securities being offered.  Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor.  Investors should read the prospectus before making an investment decision.

SOURCE Global Infrastructure Dividend Fund


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