Yahoo Finance Sustainable Innovation & Health Dividend Fund Announces Exchange Ratios
CALGARY, Alberta, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Middlefield Group, on behalf of Sustainable Innovation & Health 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 July 23, 2020.
The Fund’s investment objectives are to provide holders of units of the Fund (“Units”) with:
stable monthly cash distributions, and
enhanced long-term total return through capital appreciation of the Fund’s investment portfolio;
through a diversified, actively managed portfolio comprised primarily of dividend paying securities of global technology and healthcare companies, including initially those which the advisor believes are positioned to benefit long-term from the trends and changing consumer behaviours resulting from the COVID-19 global pandemic (collectively, “Innovative Technology & Healthcare Issuers”). The advisor believes Innovative Technology & Healthcare Issuers will generate attractive risk-adjusted returns for the Fund as the technology and healthcare sectors have a history of developing long-lasting innovative solutions to address major social and economic challenges. In addition, the Portfolio will focus on sustainable technology and healthcare companies with assets the advisor believes have been developed and operated taking into account environmental, social and governance considerations.
The initial target distribution yield for the Fund is 4% per annum based on the original subscription price (or $0.03333 per Unit per month or $0.40 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 August 6, 2020 (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. The Exchange Ratio for any such securities that do not trade in Canadian dollars was determined by converting the weighted average trading price on the applicable exchange of such securities into Canadian dollars based on today’s Bank of Canada daily exchange rate. 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 |
E-Commerce Issuers | |||||
Amazon.com Inc | AMZN | 023135106 | US0231351067 | 4212.6021 | 421.26020 |
Cargojet Inc | CJT | 14179V503 | CA14179V5036 | 176.2253 | 17.62253 |
Dream Industrial Real Estate Investment Trust | DIR-U | 26153W109 | CA26153W1095 | 11.1649 | 1.11649 |
Duke Realty Corp | DRE | 264411505 | US2644115055 | 52.8096 | 5.28096 |
Granite Real Estate Investment Trust | GRT-U | 387437114 | CA3874371147 | 78.6071 | 7.86071 |
HP Inc | HPQ | 40434L105 | US40434L1052 | 23.6785 | 2.36785 |
Mastercard Inc | MA | 57636Q104 | US57636Q1040 | 423.3794 | 42.33794 |
PayPal Holdings Inc | PYPL | 70450Y103 | US70450Y1038 | 263.3234 | 26.33234 |
Pinterest Inc | PINS | 72352L106 | US72352L1061 | 45.4874 | 4.54873 |
Prologis Inc | PLD | 74340W103 | US74340W1036 | 139.6096 | 13.96095 |
Shopify Inc | SHOP | 82509L107 | CA82509L1076 | 1419.7737 | 141.97737 |
Square Inc | SQ | 852234103 | US8522341036 | 193.6603 | 19.36603 |
STAG Industrial Inc | STAG | 85254J102 | US85254J1025 | 43.6467 | 4.36466 |
Terreno Realty Corp | TRNO | 88146M101 | US88146M1018 | 80.8901 | 8.08900 |
Visa Inc | V | 92826C839 | US92826C8394 | 256.3451 | 25.63451 |
Walmart Inc | WMT | 931142103 | US9311421039 | 172.2173 | 17.22172 |
WPT Industrial Real Estate Investment Trust | WIR-U | 92937G109 | CA92937G1090 | 18.4029 | 1.84029 |
Work From Home Issuers | |||||
Absolute Software Corp | ABT | 00386B109 | CA00386B1094 | 16.0083 | 1.59283 |
Advanced Micro Devices Inc | AMD | 007903107 | US0079031078 | 109.4671 | 10.94670 |
Alphabet Inc | GOOGL | 02079K305 | US02079K3059 | 1967.8297 | 196.78296 |
American Tower Corp | AMT | 03027X100 | US03027X1000 | 343.2037 | 34.32036 |
AT&T Inc | T | 00206R102 | US00206R1023 | 39.5247 | 3.95246 |
BCE Inc | BCE | 05534B760 | CA05534B7604 | 56.5367 | 5.65367 |
BlackBerry Ltd | BB | 09228F103 | CA09228F1036 | 6.4138 | 0.64138 |
Broadcom Inc | AVGO | 11135F101 | US11135F1012 | 429.9729 | 42.99729 |
Celestica Inc | CLS | 15101Q108 | CA15101Q1081 | 11.0248 | 1.10248 |
CenturyLink Inc | CTL | 156700106 | US1567001060 | 13.2685 | 1.32684 |
CGI Inc | GIB/A | 12532H104 | CA12532H1047 | 94.6854 | 9.46854 |
Cisco Systems Inc | CSCO | 17275R102 | US17275R1023 | 62.7182 | 6.27181 |
CoreSite Realty Corp | COR | 21870Q105 | US21870Q1058 | 170.1732 | 17.01732 |
Crown Castle International Corp | CCI | 22822V101 | US22822V1017 | 219.7842 | 21.97841 |
CyrusOne Inc | CONE | 23283R100 | US23283R1005 | 111.8126 | 11.18125 |
Descartes Systems Group Inc/The | DSG | 249906108 | CA2499061083 | 75.8115 | 7.58115 |
Digital Realty Trust Inc | DLR | 253868103 | US2538681030 | 213.0176 | 21.30175 |
Docebo Inc | DCBO | 25609L105 | CA25609L1058 | 47.3794 | 4.73794 |
Equinix Inc | EQIX | 29444U700 | US29444U7000 | 1045.7508 | 104.57507 |
Evertz Technologies Ltd | ET | 30041N107 | CA30041N1078 | 12.6839 | 1.26839 |
Fastly Inc | FSLY | 31188V100 | US31188V1008 | 132.3084 | 13.23084 |
Home Depot Inc/The | HD | 437076102 | US4370761029 | 354.3037 | 35.43037 |
Intel Corp | INTC | 458140100 | US4581401001 | 64.1891 | 6.37504 |
International Business Machines Corp | IBM | 459200101 | US4592001014 | 165.1189 | 16.29523 |
Keysight Technologies Inc | KEYS | 49338L103 | US49338L1035 | 132.7088 | 13.27087 |
Kinaxis Inc | KXS | 49448Q109 | CA49448Q1090 | 212.2005 | 21.22005 |
Lightspeed POS Inc | LSPD | 53227R106 | CA53227R1064 | 39.6390 | 3.96390 |
Lowe's Cos Inc | LOW | 548661107 | US5486611073 | 198.8897 | 19.88896 |
Microsoft Corp | MSFT | 594918104 | US5949181045 | 280.9135 | 28.09135 |
Morneau Shepell Inc | MSI | 61767W104 | CA61767W1041 | 30.9324 | 3.09324 |
Netflix Inc | NFLX | 64110L106 | US64110L1061 | 665.0759 | 66.50758 |
NVIDIA Corp | NVDA | 67066G104 | US67066G1040 | 584.3397 | 58.43397 |
Okta Inc | OKTA | 679295105 | US6792951054 | 292.6033 | 29.26033 |
Open Text Corp | OTEX | 683715106 | CA6837151068 | 60.5865 | 6.05865 |
QTS Realty Trust Inc | QTS | 74736A103 | US74736A1034 | 95.5460 | 9.55459 |
Quebecor Inc | QBR/B | 748193208 | CA7481932084 | 30.8836 | 3.08836 |
Real Matters Inc | REAL | 75601Y100 | CA75601Y1007 | 31.1010 | 3.11010 |
Rogers Communications Inc | RCI/B | 775109200 | CA7751092007 | 55.4265 | 5.54265 |
SBA Communications Corp | SBAC | 78410G104 | US78410G1040 | 410.3985 | 41.03984 |
Seagate Technology PLC | STX | n/a | IE00B58JVZ52 | 59.8157 | 5.98157 |
Shaw Communications Inc | SJR/B | 82028K200 | CA82028K2002 | 24.5617 | 2.45617 |
TELUS Corp | T | 87971M103 | CA87971M1032 | 23.5716 | 2.35716 |
T-Mobile US Inc | TMUS | 872590104 | US8725901040 | 143.0315 | 14.30314 |
Verizon Communications Inc | VZ | 92343V104 | US92343V1044 | 76.4071 | 7.64070 |
Digital Health Issuers | |||||
Abbott Laboratories | ABT | 002824100 | US0028241000 | 134.0262 | 13.40261 |
AmerisourceBergen Corp | ABC | 03073E105 | US03073E1055 | 137.1780 | 13.71779 |
Apple Inc | AAPL | 037833100 | US0378331005 | 575.3526 | 57.42626 |
Cardinal Health Inc | CAH | 14149Y108 | US14149Y1082 | 73.7132 | 7.37131 |
Cerner Corp | CERN | 156782104 | US1567821046 | 92.1393 | 9.21393 |
CVS Health Corp | CVS | 126650100 | US1266501006 | 85.2795 | 8.52794 |
Lululemon Athletica Inc | LULU | 550021109 | US5500211090 | 441.7127 | 44.17126 |
Medtronic PLC | MDT | n/a | IE00BTN1Y115 | 128.3998 | 12.83997 |
Quest Diagnostics Inc | DGX | 74834L100 | US74834L1008 | 168.9851 | 16.89850 |
Teladoc Health Inc | TDOC | 87918A105 | US87918A1051 | 288.2003 | 28.82003 |
UnitedHealth Group Inc | UNH | 91324P102 | US91324P1021 | 406.7049 | 40.67048 |
Life Sciences Issuers | |||||
AstraZeneca PLC | AZN | 046353108 | US0463531089 | 74.8281 | 7.48281 |
Aurinia Pharmaceuticals Inc | AUP | 05156V102 | CA05156V1022 | 18.8767 | 1.88767 |
Bausch Health Cos Inc | BHC | 071734107 | CA0717341071 | 26.2893 | 2.62893 |
Bristol-Myers Squibb Co | BMY | 110122108 | US1101221083 | 79.6179 | 7.96178 |
CRISPR Therapeutics AG | CRSP | n/a | CH0334081137 | 121.0331 | 12.10330 |
Danaher Corp | DHR | 235851102 | US2358511028 | 272.4473 | 27.24473 |
Gilead Sciences Inc | GILD | 375558103 | US3755581036 | 92.9899 | 9.29899 |
Jamieson Wellness Inc | JWEL | 470748104 | CA4707481046 | 38.2145 | 3.82145 |
Johnson & Johnson | JNJ | 478160104 | US4781601046 | 195.2043 | 19.52043 |
Knight Therapeutics Inc | GUD | 499053106 | CA4990531069 | 6.8684 | 0.68684 |
Merck & Co Inc | MRK | 58933Y105 | US58933Y1055 | 108.1878 | 10.81878 |
Pfizer Inc | PFE | 717081103 | US7170811035 | 51.0130 | 5.10129 |
Other Issuers | |||||
A&W Revenue Royalties Income Fund | AW-U | 000255109 | CA0002551095 | 29.0245 | 2.90245 |
Algonquin Power & Utilities Corp | AQN | 015857105 | CA0158571053 | 18.2908 | 1.82908 |
Allied Properties Real Estate Investment Trust | AP-U | 019456102 | CA0194561027 | 40.0835 | 4.00835 |
Bank of Montreal | BMO | 063671101 | CA0636711016 | 73.9909 | 7.39909 |
Bank of Nova Scotia/The | BNS | 064149107 | CA0641491075 | 55.4827 | 5.54827 |
Brookfield Renewable Partners LP | BEP-U | n/a | BMG162581083 | 57.3802 | 5.73802 |
Canadian Apartment Properties REIT | CAR-U | 134921105 | CA1349211054 | 48.1599 | 4.81599 |
Canadian Imperial Bank of Commerce | CM | 136069101 | CA1360691010 | 93.0908 | 9.30908 |
Chartwell Retirement Residences | CSH-U | 16141A103 | CA16141A1030 | 9.7827 | 0.97827 |
CT Real Estate Investment Trust | CRT-U | 126462100 | CA1264621006 | 13.9558 | 1.39558 |
Emera Inc | EMA | 290876101 | CA2908761018 | 55.0816 | 5.50816 |
Extendicare Inc | EXE | 30224T863 | CA30224T8639 | 5.6432 | 0.56432 |
Firm Capital Property Trust | FCD-U | 318326105 | CA3183261054 | 5.0505 | 0.50505 |
First Capital Real Estate Investment Trust | FCR-U | 31890B103 | CA31890B1031 | 13.5952 | 1.35952 |
First National Financial Corp | FN | 33564P103 | CA33564P1036 | 34.5398 | 3.45398 |
Fortis Inc/Canada | FTS | 349553107 | CA3495531079 | 54.0741 | 5.40741 |
Inter Pipeline Ltd | IPL | 45833V109 | CA45833V1094 | 13.2980 | 1.32980 |
InterRent Real Estate Investment Trust | IIP-U | 46071W205 | CA46071W2058 | 13.5003 | 1.35003 |
Manulife Financial Corp | MFC | 56501R106 | CA56501R1064 | 18.6610 | 1.86610 |
NorthWest Healthcare Properties Real Estate Investment Trust | NWH-U | 667495105 | CA6674951059 | 11.2493 | 1.12493 |
Premium Brands Holdings Corp | PBH | 74061A108 | CA74061A1084 | 95.5388 | 9.55388 |
Royal Bank of Canada | RY | 780087102 | CA7800871021 | 93.2440 | 9.32440 |
Sienna Senior Living Inc | SIA | 82621K102 | CA82621K1021 | 10.2461 | 1.02461 |
Summit Industrial Income REIT | SMU-U | 866120116 | CA8661201167 | 12.1402 | 1.21402 |
Sun Life Financial Inc | SLF | 866796105 | CA8667961053 | 52.9872 | 5.29872 |
Toronto-Dominion Bank/The | TD | 891160509 | CA8911605092 | 59.6963 | 5.96963 |
The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities, National Bank Financial Inc., Raymond James Ltd., Richardson GMP, Manulife Securities Incorporated, Hampton Securities Limited, Middlefield Capital Corporation, Echelon Wealth Partners Inc. and Mackie Research Capital Corporation.
For further information, please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury in our Sales and Marketing Department at 1.888.890.1868.
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.
