Maximum $150 Million - Closing March 20, 2012
TORONTO, Feb. 28, 2012 /CNW/ - Middlefield Group, on behalf of
Middlefield Income Plus II Corp. ("Income Plus II" or the "Fund"), is
pleased to announce that it has filed a final prospectus in relation to
an initial public offering of equity shares (the "Shares") at a price
of $12.00 per Share.
Income Plus II has been designed to provide investors with monthly cash
distributions and the potential for capital appreciation. The Fund will
be actively managed and initially comprised of 70% high dividend paying
common shares and 30% fixed income securities of Canadian issuers that
offer attractive opportunities for both stable income and capital
The Fund will employ an investment strategy which is similar to that of
Middlefield Income Plus Class mutual fund, which was launched in
September 2000 and has maintained a consistent $0.07 per share monthly
distribution since 2003. The net asset value per Series A share of
Middlefield Income Plus Class was $16.15 as of February 17, 2012.
Middlefield Capital Corporation will act as the investment advisor to
The initial target distribution yield for the Fund is expected to be
6.0% per annum based on the original subscription price (or $0.06 per
Share per month or $0.72 per Share per annum).
Middlefield Limited, the manager, intends that on or about March 27,
2014, the Fund will, subject to receipt of any regulatory approvals
then required, amalgamate on a tax-deferred basis with Middlefield
Income Plus Class mutual fund.
The syndicate of agents is being co-led by CIBC World Markets Inc. and
RBC Capital Markets and includes BMO Capital Markets, National Bank
Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord
Genuity Corp., GMP Securities L.P., Macquarie Private Wealth Inc.,
Raymond James Ltd., Middlefield Capital Corporation, Dundee Securities
Ltd. and Mackie Research Capital Corporation.
This press release is for information purposes only and does not
constitute an offer to sell or a solicitation to buy the securities
referred to herein. 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. Investors should read the
prospectus before making an investment decision.
SOURCE Middlefield Income Plus II Corp.
For further information:
please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.