Exchange Bulletin
Euro Banc Capital Securities Trust (EBT.UN) To Trade On Toronto Stock Exchange
Euro Banc Capital Securities Trust (the "Fund") - An application has been granted for the original listing in the Industrial category of up to a maximum of 14,375,000 Units of the Fund, of which up to 12,500,000 Units will be issued and outstanding and up to 1,875,000 Units will be reserved for issuance upon completion of an initial public offering (the "Offering").
Listing of the Units will become effective at 5:01 p.m. on Monday, June 23, 2014 in anticipation of the Offering closing on Tuesday, June 24, 2014. The Units will be posted for trading at the opening on June 24, 2014.
Registration of interests in and transfers of the Units will be made only through the book-based system administered by CDS Clearing and Depository Services Inc. ("CDS"). Units must be purchased, transferred and surrendered for redemption through a CDS Participant. Upon the purchase of Units, the owner will receive only a customer confirmation.
Additional information on the Units may be found in the Fund's final prospectus dated May 28, 2014 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.
| Stock Symbol: "EBT.UN" | CUSIP: 29872N 10 3 | Trading Currency: CDN$ |
| Temporary Market Maker: | RBC Capital Markets |
| Other Markets: | None. |
| Head Office Address: | 77 King Street West Suite 2110 Toronto, ON M5K 1G8 |
| Email Address: | funds@astonhill.ca |
| Website: | www.astonhill.ca |
| Head Office Telephone Number: | (416) 583-2300 |
| Fax Number: | (877) 374-7952 |
| Investor Relations: | W. Neil Murdoch Tel: (416) 583-2336 Email: nmurdoch@astonhill.ca Darren N. Cabral Tel: (416) 214-6182 Email: dcabral@astonhill.ca |
| Chief Financial Officer: | Darren N. Cabral |
| Corporate Secretary: | Sasha Rnjak |
| Incorporation: | The Fund is a non-redeemable investment fund established under the laws of the Province of Ontario pursuant to a trust agreement dated as of May 28, 2014. |
| Fiscal Year End: | April 30 |
| Nature of Business: | The Fund's investment objectives are to (i) provide quarterly cash distributions; and (ii) preserve capital, in each case through investment in a diversified portfolio consisting primarily of investment grade and non-investment grade Capital Securities issued by European financial institutions that have an investment grade issuer rating. Capital Securities are subordinated capital instruments (excluding common equity) issued by financial institutions that are designed to meet the regulatory capital requirements of the issuer's regulator. |
| Transfer Agent & Registrar: | Computershare Investor Services Inc. at its principal office in Toronto. |
| Distribution: | The Fund intends to make quarterly distributions based on the actual and expected returns on the Portfolio to Unitholders of record on the last Business Day of each quarter. Distributions will be paid on a Business Day designated by the Manager that will be no later than the 15th day of the following month; provided that if the 15th day of the following month is not a Business Day, the distributions shall be paid on the next day that is a Business Day. Based on current estimates and the assumptions set out in the Prospectus, the Fund's initial distribution target is expected to be $0.15 per Unit per quarter, representing an initial yield on the Unit issue price of 6.0% per annum. The initial quarterly distribution will be payable to Unitholders of record on September 30, 2014 and will be paid no later than October 15, 2014. The first distribution is expected to reflect the period from the Closing Date to September 30, 2014. |
| Public Offering: | Pursuant to the terms of the Prospectus, up to a maximum of 12,500,000 Units are being offered to the public by BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., Burgeonvest Bick Securities Limited, Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated, as agents, at a price of $10.00 per Unit. |
