Exchange Bulletin

Brompton Oil Split Corp. (OSP, OSP.PR.A) To Trade On Toronto Stock Exchange


February 20, 2015

Brompton Oil Split Corp. An application has been granted for the original listing in the Industrial category of up to 6,900,000 class A shares (‘‘Class A Shares’’) and up to 6,900,000 preferred shares (‘‘Preferred Shares’’), of which up to 6,000,000 Class A Shares and up 6,000,000 Preferred Shares will be issued and outstanding, and up to 900,000 Class A Shares and up to 900,000 Preferred Shares will be reserved for issuance upon completion of an initial public offering (the “Offering”).

Listing of the Class A Shares and Preferred Shares will become effective at 5:01 p.m. on Monday, February 23, 2015 in anticipation of the public offering closing on Tuesday, February 24, 2015. The Class A Shares and Preferred Shares will be posted for trading at the opening on February 24, 2015 upon confirmation of closing of the Offering.

Registration of interests in and transfers of the Class A Shares and Preferred Shares will be made through the book-based system of CDS Clearing and Depository Services Inc. (‘‘CDS’’). Class A Shares and Preferred Shares must be purchased, transferred and surrendered for retraction or redemption through a CDS Participant. Beneficial owners of Class A Shares and Preferred Shares will not have the right to receive physical certificates evidencing their ownership of such shares.

Additional information on the Class A Shares and Preferred Shares may be found in the final prospectus dated January 29, 2015 (the “Prospectus”), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

 

Class A Shares

Stock Symbol: "OSP" CUSIP: 11222H 10 1 Trading Currency: CDN$

Preferred Shares

Stock Symbol: "OSP.PR.A" CUSIP: 11222H 20 0 Trading Currency: CDN$

 

Temporary Market Maker: Jones Gable & Company Ltd.
Other Markets: None
Head Office Address: Bay Wellington Tower
181 Bay Street, Suite 2930
P.O. Box 793
Toronto, Ontario
M5J 2T3
Email Address: kikuchi@bromptongroup.com
Website: www.bromptonfunds.com
Head Office Telephone Number: (416) 642-9050
Fax Number: (416) 642-0001
Investor Relations: Mark A. Caranci
(416) 642-6004
caranci@bromptongroup.com

Craig T. Kikuchi
(416) 642-3050
kikuchi@bromptongroup.com
Chief Financial Officer, Corporate Secretary & Director: Craig T. Kikuchi
Incorporation: The Company was incorporated under the under the laws of the Province of Ontario on December 30, 2014.
Manager: Brompton Funds Limited
Fiscal Year End: December 31
Nature of Business: The Company will invest in a portfolio (the ‘‘Portfolio’’) of equity securities of at least 15 large capitalization North American oil and gas issuers selected by the Manager from the S&P 500 Index and the S&P/TSX Composite Index. The Portfolio will be focused primarily on oil and gas issuers that have significant exposure to oil.
Transfer Agent & Registrar: Equity Financial Trust Company at its principal office in Toronto.
Distributions: Class A Shares: the Company will pay monthly non-cumulative distributions to the holders of Class A Shares in the amount of $0.10 per Class A Share. Such distributions will be paid on or before the tenth Business Day of the month following the month in respect of which the distribution becomes payable. No distributions will be paid on the Class A Shares if (i) the distributions payable on the Preferred Shares are in arrears or (ii) in respect of a cash distribution by the Company, the NAV per Unit would be less than $15.00. In addition, the Company will not pay distributions in excess of $0.10 per month on the Class A Shares if, after payment of the distribution, the NAV per Unit would be less than $23.50 unless the Company has to make such distribution to fully recover refundable taxes.

Preferred Shares: Holders of record of Preferred Shares on the last Business Day of each of March, June, September and December will be entitled to receive fixed, cumulative preferential quarterly cash distributions equal to $0.1250 per Preferred Share. On an annualized basis, this would represent a yield on the Preferred Share offering price of approximately 5.0%. Such quarterly distributions are expected to be paid by the Company before the tenth Business Day of the month following the period in respect of which the distribution was payable. Based on the expected Closing Date, the initial distribution will be $0.0500 per Preferred Share and is expected to be payable to holders of Preferred Shares of record on March 31, 2015. The first distribution will be pro-rated to reflect the period from February 24, 2015 to March 31, 2015.
Public Offering: Pursuant to the terms of the Prospectus, up to 6,000,000 Class A Shares are being offered to the public at a price of $15.00 per share and up to 6,000,000 Preferred Shares at a price of $10.00 per share by Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc. and Mackie Research Capital Corporation, as agents.