Exchange Bulletin
Middlefield Global Real Asset Fund (RA.UN) To Trade On Toronto Stock Exchange
Issuer: Middlefield Global Real Asset Fund (the "Fund")
Security | Symbol | Issued and Outstanding Securities | Reserved Securities | Issue Price |
---|---|---|---|---|
Trust units (the "Units") |
RA.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: | November 25, 2019 (as at 5:01 pm) in anticipation of closing of the Offering. |
Anticipated closing date: | November 26, 2019 |
Posted for trading date: | November 26, 2019 (at the opening) subject to confirmation of closing of the Offering. |
Other market(s): | None |
Designated market maker: | Citadel Securities Canada ULC |
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 October 11, 2019. |
Manager and Trustee: | Middlefield Limited |
Fiscal year end: | December 31 |
Nature of business: | The Fund's investment objectives are to provide holders of Units 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 primarily of dividend paying securities of global issuers focused on, involved in, or that derive a significant portion of their revenue from physical real estate or infrastructure assets, which the Advisor believes will generate attractive risk-adjusted returns for the Fund due to the tangible, difficult to replicate, long-term nature of such assets and their ability to shape and support global economic activity. |
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 February 28, 2021 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 October 11, 2019, 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: | Chris Birkett, Director, Toronto Stock Exchange |