Exchange Bulletin
Global Real Estate & E-Commerce Dividend Fund (GEC.UN) To Trade On Toronto Stock Exchange
Issuer: Global Real Estate & E-Commerce Dividend Fund (the "Fund")
Security |
Symbol |
Issued and Outstanding Securities |
Reserved Securities |
Issue Price |
Trust units (the "Units") |
GEC.UN |
15,000,000 |
2,310,000 |
$10.00 |
Listing category: |
Non-Corporate |
Trading currency: |
CDN$ |
Transaction: |
Initial public offering of Units (the "Offering") |
Listing date: |
October 24, 2018 (as at 5:01 pm) in anticipation of closing of the Offering. |
Anticipated closing date: |
October 25, 2018 |
Posted for trading date: |
October 25, 2018 (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: |
Francisco Z. Ramirez President, Middlefield Limited (403) 269-2100 - OR – Catherine E. Rebuldela Chief 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 19, 2018. |
Manager and Trustee: |
Middlefield Limited |
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 a diversified, actively managed portfolio comprised of dividend-paying securities of global real estate issuers that are believed to be well positioned to benefit from the rapid adoption of e-commerce products and services, as well as securities of issuers operating in or deriving a significant portion of their revenue or earnings from products or services related to the e-commerce industry. |
Transfer agent and registrar: |
Middlefield Capital Corporation at its principal office in Toronto. |
Distributions |
The Fund intends to provide Unitholders with monthly cash distributions. The initial target distribution amount for the period ending January 31, 2020 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 19, 2018 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 15,000,000 Units (and a minimum of 2,000,000 Units) at a price of $10.00 per Unit, are being offered to the public. |
TSX contact: |
Julie Shin, Managing Director, Toronto Stock Exchange. |