Search results will open in a new window on TMXMoney.com.

Exchange Bulletin

E Split Corp. (ENS, ENS.PR.A) To Trade On Toronto Stock Exchange


June 27, 2018

Issuer: E Split Corp. (the "Company")

SecuritySymbolIssued and Outstanding SecuritiesReserved SecuritiesIssue Price
Class A Shares ENS up to 8,000,000 up to 1,200,000 $15.00
Preferred Shares ENS.PR.A up to 8,000,000 up to 1,200,000 $10.00
Listing category: Non-Corporate
Trading currency: CDN$
Transaction: Initial public offering of Class A Shares and Preferred Shares (the "Offering")
Listing date: June 28, 2018 (as at 5:01 pm) in anticipation of closing of the Offering.
Anticipated closing date: June 29, 2018 (prior to the opening)
Posted for trading date: June 29, 2018 (at the opening) subject to confirmation of closing of the Offering.
Other market(s): None
Temporary market maker: Canaccord Genuity Corp.
Security ownership registration: CDS book-entry system
Investor relations: Dean Orrico
President & Director
(416) 362-0714
- OR –
Craig Rogers
Chief Financial Officer & Director
(416) 362-0714
Incorporation: The Company is a mutual fund established under the laws of the Province of Ontario on May 17, 2018.
Manager: Middlefield Limited
Fiscal year end: December 31
Nature of business: The investment objectives for the Preferred Shares are to provide holders with fixed cumulative preferential quarterly cash distributions and to return the original issue price of $10.00 to holders on June 30, 2023 (the "Maturity Date"), subject to extension for successive terms of up to five years as determined by the Company's board of directors.The investment objectives for the Class A Shares are to provide holders with non-cumulative monthly cash distributions and to provide holders with the opportunity for capital appreciation through exposure to the Portfolio comprised of common shares of Enbridge Inc., a North American oil and gas pipeline, gas processing, and natural gas distribution company.
Transfer agent and registrar: Middlefield Capital Corporation at its principal office in Toronto.
Distributions: Class A Shares: The Company will pay non-cumulative monthly distributions to the holders of Class A Shares. The monthly cash distribution is targeted to be $0.10 per Class A Share. The initial distribution on the Class A Shares is expected to be declared payable to holders of Class A Shares of record on August 31, 2018.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 $0.13125 perPreferred Share until June 30, 2023. Based on the expected Closing Date, the initial distribution is expected to be payable to the holders of Preferred Shares of record on September 30, 2018. The first distribution will be pro-rated to reflect the period from the Closing Date to September 30, 2018.
Sponsorship: Not applicable
Offering document: Prospectus dated June 14, 2018 which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Prospectus.
Initial public offering: Pursuant to the terms of the Prospectus, up to 8,000,000 Class A Shares at a subscription price of $15.00 per Class A Share and up to 8,000,000 Preferred Shares at a subscription price of $10.00 per Preferred Share, are being offered to the public. In addition, the Company has granted to the Agents an over-allotment option pursuant to which the Agents may purchase up to an additional 1,200,000 Class A Shares and up to an additional 1,200,000 Preferred Shares at a subscription price of $15.00 per Class A Share and $10.00 per Preferred Share.
TSX contact: Julie K. Shin,
Listed Issuer Services,
Toronto Stock Exchange.