Exchange Bulletin
Middlefield Healthcare & Wellness Dividend Fund (HWF.UN) To Trade On Toronto Stock Exchange
Issuer: Middlefield Healthcare & Wellness Dividend Fund (the "Fund")
Security | Symbol | CUSIP | Issued and Outstanding Securities | Reserved Securities | Issue Price |
---|---|---|---|---|---|
Trust units (the "Units") | HWF.UN | 596335 10 9 | 30,000,000 | 4,560,000 | $10.00 |
Listing category: | Non-Corporate |
Trading currency: | CDN$ |
Transaction: | Initial public offering of Units (the "Offering") |
Listing date: | October 19, 2016 (as at 5:01 pm) in anticipation of closing of the Offering. |
Anticipated closing date: | October 20, 2016 |
Posted for trading date: | October 20, 2016 (at the opening) subject to confirmation of closing of the Offering. |
Other market(s): | None |
Temporary market maker: | W.D. Latimer Co Ltd. |
Security ownership registration: | CDS book-entry system |
Investor relations: | Robert F. Lauzon President, Middlefield Limited (403) 269-2100 - OR - Francisco Z. RamirezChief Financial Officer, Middlefield Limited (403) 269-2100 |
Incorporation: | An investment fund established as a trust under the laws of the Province of Alberta pursuant to a declaration of trust dated as of September 20, 2016. |
Manager and Trustee: | Middlefield Limited (the "Manager") |
Fiscal year end: | December 31 |
Nature of business: | The Fund's investment objectives are to provide holders of Units ("Unitholders") with: (i) stable monthly cash distributions; and (ii) enhanced long-term total return through capital appreciation of the Fund's investment portfolio; through an investment strategy which focuses primarily on investing in securities of issuers operating in or that derive a significant portion of their earnings or revenue from products or services related to the healthcare, wellness and related industries. |
Transfer agent and registrar: | MFL Management Limited at its principal office in Toronto. |
Conversion: | On or about April 15, 2019, the Fund will, subject to applicable law, which may require Unitholder and/or regulatory approval, be merged on a tax-deferred basis into an open-end mutual fund managed by the Manager or an affiliate which the Manager determines has substantially similar investment objectives. |
Distributions | The Fund intends to provide Unitholders with monthly cash distributions. The initial target distribution amount for the period ending November 30, 2017 is $0.04167 per Unit per month (corresponding to an annualized distribution of $0.50 per Unit per annum and representing an annualized yield of 5.0% per annum based on the original subscription price). |
Sponsorship: | Not applicable |
Disclosure document: | Prospectus dated September 20, 2016 which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Disclosure document. |
Initial public offering: | Pursuant to the terms of the Prospectus, a maximum of 30,000,000 Units (and a minimum of 3,000,000 Units) at a price of $10.00 per Unit, are being offered to the public. |
TSX contact: | Julie Shin Director, Listed Issuer Services Toronto Stock Exchange. |