Exchange Bulletin
Goldman Sachs U.S. Income Builder Trust (GSB.UN) To Trade On Toronto Stock Exchange
Goldman Sachs U.S. Income Builder Trust (the "Company") - An application has been granted for the original listing in the Industrial category of up to a maximum of 28,750,000 Class A Units, of which up to 25,000,000 Class A Units will be issued and outstanding, and up to 3,750,000 Class A Units will be reserved for issuance upon completion of an initial public offering (the "Offering").
Listing of the Class A Units will become effective at 5:01 p.m. on Friday, June 20, 2014, in anticipation of the public offering closing on Monday, June 23, 2014. The Class A Units will be posted for trading at the opening on June 23, 2014, upon confirmation of the closing of the offering.
Registrations of interests in and transfers of the Class A Units will be made only through the book-based system administered by CDS Clearing and Depository Services Inc. ("CDS"). Class A Units must be purchased, transferred and surrendered for redemption only through a CDS Participant. Purchasers of Class A Units will receive a customer confirmation from the registered dealer from or through which the Class A Units are purchased and will not have the right to receive physical certificates evidencing their ownership in the Class A Units.
Additional information on the Common Shares may be found in the prospectus dated June 11, 2014 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.
| Stock Symbol: "GSB.UN" | CUSIP: 38148E 10 2 | Trading Currency: CDN$ |
| Temporary Market Maker: | RBC Capital Markets |
| Other Markets: | None. |
| Head Office Address: | Bay Wellington Tower, Brookfield Place 181 Bay Street, Suite 2930 Toronto, Ontario M5J 2T3 |
| Email Address: | info@bromptongroup.com |
| Website: | www.bromptongroup.com |
| Head Office Telephone Number: | (416) 642-6000 |
| Fax Number: | (416) 642-6001 |
| Investor Relations: | Jason Goletz Vice President, Sales & Marketing Tel: (416) 642-6008 Email: goletz@bromptongroup.com Christopher Cullen Senior Vice President Tel: (416) 642-9064 Email: cullen@bromptongroup.com |
| Chief Financial Officer: | Craig T. Kikuchi |
| Corporate Secretary: | Craig T. Kikuchi |
| Incorporation: | The Fund is a closed-end investment fund established under the under the laws of the Province of Ontario and governed by the amended and restated declaration of trust dated May 26, 2014. |
| Manager of the Company: | Brompton Funds Limited |
| Fiscal Year End: | December 31 |
| Nature of Business: | The investment objectives of the Fund are to seek to provide (i) income; and (ii) capital appreciation, in each case, through investing in an actively managed, diversified portfolio comprised primarily of U.S. fixed income and equity securities. |
| Transfer Agent & Registrar: | Equity Financial Trust Company at its principal office in Toronto. |
| Distributions | The Fund intends to make monthly cash distributions to Unitholders. Distributions will be paid no later than the 10th Business Day following the end of the month for which the distribution is payable. The initial cash distribution will be payable to Unitholders of record on July 31, 2014 and is expected to be paid on or about August 15, 2014, based on the anticipated Closing Date and will be pro-rated to reflect the period from the Closing Date to July 31, 2014. The Fund will not have a fixed monthly distribution amount but intends to, at least annually, announce expected monthly distributions for the following twelve months. The initial distribution target for the Fund is $0.04167 per Class A Unit per month (US$0.04167 per Class U Unit per month) representing an initial yield on the Unit subscription price of 5% per annum. The amount of monthly distributions may fluctuate from month to month and there can be no assurance as to the amount of the targeted distributions or that the Fund will make any distribution in any particular month. |
| Class U Units: | In addition to the Class A Units, the Fund is offering Class U Units under the Prospectus. The Class U Units are designed for investors who want to make their investment in U.S. dollars and will not be listed on a stock exchange. A holder of Class U units may convert such Class U Units into Class A Units on a weekly basis and it is expected that liquidity for the Class U Units will be obtained primarily by means of conversion into Class A Units and the sale of such Class A Units. Class U Units may be converted in any week on the second Business Day of such week by delivering a notice and surrendering such Class U Units by 3:00 p.m. (Toronto time) at least two Business Days prior to the applicable Conversion Date.
For each Class U Unit so converted, a holder will receive that number of Class A Units equal to the Net Asset Value per Class U Unit (expressed in Canadian dollars based on the Reference Exchange Rate) calculated following the close of trading on the second Business Day immediately preceding the Conversion Date divided by the Net Asset Value per Class A Unit calculated following the close of trading on the second Business Day immediately preceding the Conversion Date. No fraction of a Class A Unit will be issued upon any conversion of Class U Units and any fractional amounts will be rounded down to the nearest whole number of Class A Units. |
| Public Offering: | Pursuant to the terms of the Prospectus, up to a maximum of 25,000,000 Class A Units and/or Class U Units (unlisted) are being offered to the public by RBC Dominion Securities Inc., CIBC World Markets Inc., TD Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated, as agents, at a price of $10 per Class A Unit and U.S.$10 per Class U Unit. |
