CALGARY, June 17, 2015 /CNW/ - Middlefield Group is pleased to announce the successful completion, effective today, of the previously announced merger of ENERGY INDEXPLUS Dividend Fund ("Energy Indexplus") into Middlefield Global Infrastructure Fund ("Global Infrastructure Fund"), with Global Infrastructure Fund being the continuing fund.
Pursuant to the merger, each Energy Indexplus unit will automatically be exchanged for 0.52583938 Series A units of Global Infrastructure Fund. This exchange ratio was based on the relative net asset values, on an unrounded basis, of Energy Indexplus and Global Infrastructure Fund as at the close of trading on the Toronto Stock Exchange (the "TSX") on June 16, 2015. Approximately 818,794 new Series A units of Global Infrastructure Fund will be issued in connection with the merger. The units of Energy Indexplus will no longer trade on the TSX.
Unitholders of Energy Indexplus are not required to take any action in order to be recognized as Series A unitholders of Global Infrastructure Fund.
Information about Global Infrastructure Fund
Investment Objective - The objective of Global Infrastructure Fund is to maximize long-term total return by investing in a diversified portfolio of companies that own, develop, maintain or are involved in the global infrastructure sector. Investing in global infrastructure securities provides unitholders with exposure to companies with visible and stable cash flows, while providing geographic diversification, transparency and liquidity.
Distribution - Global Infrastructure Fund currently provides its unitholders with a monthly distribution of $0.05/unit (5.2% of Series A net asset value on an annualized basis as at June 16, 2015).
Performance - As at April 30, 2015, Global Infrastructure Fund Series A had one-year and since inception annualized total returns of 7.8% and 15.6%, respectively, assuming the reinvestment of distributions.
Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of Global Infrastructure Fund after completion of the merger. Actual events or results may differ materially from such forward-looking statements as a result of risks facing Global Infrastructure Fund, most of which are beyond the control of the Global Infrastructure Fund. There are no assurances that Global Infrastructure Fund can fulfill such forward-looking statements and Global Infrastructure Fund does not undertake any obligation to update such statements.
SOURCE ENERGY INDEXPLUS Dividend Fund
For further information: For further information on Global Infrastructure Fund, including its annual report, which details its investment strategy, 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.