Global Dividend Growers Income Fund Announces Exchange Ratios

CALGARY, March 7, 2013 /CNW/ - Middlefield Group, on behalf of Global Dividend Growers Income Fund (the "Fund"), is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the final prospectus of the Fund dated February 26, 2013.

The Fund's investment objectives are to:

(i) provide holders of units with stable monthly cash distributions and to grow distributions over time, and

(ii) enhance long-term total return through capital appreciation of the Fund's investment portfolio,

through an investment strategy which combines passive and active portfolio management and entails investing primarily in securities of global, including Canadian and U.S., issuers which have exhibited strong dividend growth.

The initial target distribution yield for the Fund is 6.0% per annum based on the original subscription price (or $0.05 per unit per month or $0.60 per unit per annum).

Middlefield Capital Corporation will act as the investment advisor to the Fund.

The number of units issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ending on March 7, 2013 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $10.00. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of units and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio will be rounded down to five decimal places.

The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Fund pursuant to the Exchange Option including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratios.

           
NAME TICKER CUSIP ISIN VWAP EXCHANGE
RATIO
ENERGY SECURITIES          
Baytex Energy Corp. BTE 07317Q105 CA07317Q1054 43.6667 4.36667
Calfrac Well Services Ltd. CFW 129584108 CA1295841086 24.7895 2.47895
Cameco Corp. CCO 13321L108 CA13321L1085 21.3670 2.13670
Canadian Natural Resources Ltd. CNQ 136385101 CA1363851017 31.4146 3.12896
Crescent Point Energy Corp. CPG 22576C101 CA22576C1014 38.5376 3.85376
Enbridge Inc. ENB 29250N105 CA29250N1050 46.0105 4.60105
Enbridge Income Fund Holdings Inc. ENF 29251R105 CA29251R1055 25.2228 2.52228
Enerplus Corp. ERF 292766102 CA2927661025 14.1924 1.41924
Ensign Energy Services Inc. ESI 293570107 CA2935701078 17.2156 1.72156
Imperial Oil Ltd. IMO 453038408 CA4530384086 43.1063 4.31063
Inter Pipeline Fund IPL.UN 45833P102 CA45833P1027 23.5042 2.35042
Keyera Corp. KEY 493271100 CA4932711001 54.9477 5.49477
Pason Systems Inc. PSI 702925108 CA7029251088 16.3031 1.61731
Pembina Pipeline Corp. PPL 706327103 CA7063271034 30.4476 3.04476
ShawCor Ltd. SCL.A 820904209 CA8209042099 39.5966 3.94966
Suncor Energy Inc. SU 867224107 CA8672241079 31.0784 3.10784
Talisman Energy Inc. TLM 87425E103 CA87425E1034 12.6166 1.25491
TransCanada Corp. TRP 89353D107 CA89353D1078 48.4361 4.84361
Trican Well Service Ltd. TCW 895945103 CA8959451037 13.3940 1.33940
Veresen Inc. VSN 92340R106 CA92340R1064 12.8600 1.28600
Vermilion Energy Inc. VET 923725105 CA9237251058 52.7293 5.27293
           
FINANCIAL SERVICE SECURITIES          
AGF Management Ltd. AGF.B 001092105 CA0010921058 11.4134 1.14134
Bank of Montreal BMO 063671101 CA0636711016 64.0617 6.40617
Bank of Nova Scotia BNS 064149107 CA0641491075 61.1590 6.11590
Canadian Imperial Bank of Commerce CM 136069101 CA1360691010 83.2517 8.32517
Canadian Western Bank CWB 13677F101 CA13677F1018 29.8178 2.96478
Great-West Lifeco Inc. GWO 39138C106 CA39138C1068 27.4442 2.74442
Home Capital Group Inc. HCG 436913107 CA4369131079 56.7607 5.67607
IGM Financial Inc. IGM 449586106 CA4495861060 45.5675 4.55675
Industrial Alliance Insurance & Financial Services Inc. IAG 455871103 CA4558711038 36.9048 3.69048
Intact Financial Corp. IFC 45823T106 CA45823T1066 65.5423 6.51023
iShares S&P/TSX Capped Financial Index Fund XFN 46431B107 CA46431B1076 25.2632 2.52632
Laurentian Bank of Canada LB 51925D106 CA51925D1069 45.0156 4.50156
National Bank of Canada NA 633067103 CA6330671034 77.7613 7.77613
Power Corp of Canada POW 739239101 CA7392391016 27.5421 2.75421
Power Financial Corp. PWF 73927C100 CA73927C1005 29.7750 2.97750
Royal Bank of Canada RY 780087102 CA7800871021 63.4460 6.34460
Toronto-Dominion Bank, The TD 891160509 CA8911605092 85.3594 8.53594
           
REAL ESTATE INVESTMENT TRUSTS          
Allied Properties REIT AP.UN 019456102 CA0194561027 33.9164 3.39164
Artis Real Estate Investment Trust AX.UN 04315L105 CA04315L1058 16.0227 1.60227
Boardwalk Real Estate Investment Trust BEI.UN 096631106 CA0966311064 64.2013 6.42013
Calloway Real Estate Investment Trust CWT.UN 131253205 CA1312532056 29.3101 2.93101
Canadian Apartment Properties REIT CAR.UN 134921105 CA1349211054 25.4185 2.54185
Canadian Real Estate Investment Trust REF.UN 13650J104 CA13650J1049 46.6934 4.66934
Chartwell Retirement Residences CSH.UN 16141A103 CA16141A1030 10.9979 1.09979
Cominar Real Estate Investment Trust CUF.UN 199910100 CA1999101001 22.3556 2.23556
Crombie Real Estate Investment Trust CRR.UN 227107109 CA2271071094 14.6872 1.46872
Dundee Real Estate Investment Trust D.UN 265270207 CA2652702077 36.3841 3.63841
Granite Real Estate Investment Trust GRT.UN 387437114 CA3874371147 39.6696 3.96696
H&R Real Estate Investment Trust HR.UN 404428203 CA4044282032 23.0081 2.30081
Northern Property REIT NPR.UN 66562P105 CA66562P1053 31.7169 3.17169
Primaris Retail Real Estate Investment Trust PMZ.UN 74157U109 CA74157U1093 27.2507 2.72507
RioCan Real Estate Investment Trust REI.UN 766910103 CA7669101031 27.5185 2.75185
iShares S&P/TSX Capped REIT Index Fund XRE 46431D103 CA46431D1033 17.2132 1.72132
           
OTHER DIVIDEND-PAYING EQUITY SECURITIES        
CAE Inc. CAE 124765108 CA1247651088 10.1723 1.01223
Canadian National Railway Co. CNR 136375102 CA1363751027 104.4982 10.44982
Canadian Pacific Railway Ltd. CP 13645T100 CA13645T1003 128.9482 12.89482
Finning International Inc. FTT 318071404 CA3180714048 25.6839 2.56839
Genivar Inc. GNV 37230Q205 CA37230Q2053 23.5385 2.35385
Ritchie Bros Auctioneers Inc. RBA 767744105 CA7677441056 21.7849 2.17849
SNC-Lavalin Group Inc. SNC 78460T105 CA78460T1057 45.7838 4.57838
Constellation Software Inc. CSU 21037X100 CA21037X1006 122.1536 12.11536
Agrium Inc. AGU 008916108 CA0089161081 106.3522 10.63522
Barrick Gold Corp. ABX 067901108 CA0679011084 29.9688 2.99688
CCL Industries Inc. CCL.B 124900309 CA1249003098 61.5593 6.13443
Goldcorp Inc. G 380956409 CA3809564097 33.4886 3.34386
IAMGOLD Corp. IMG 450913108 CA4509131088 6.5176 0.65176
Labrador Iron Ore Royalty Corp. LIF 505440107 CA5054401073 36.0073 3.60073
Methanex Corp. MX 59151K108 CA59151K1084 38.9227 3.87377
Potash Corp. of Saskatchewan Inc. POT 73755L107 CA73755L1076 40.7203 4.07203
Sherritt International Corp. S 823901103 CA8239011031 5.1310 0.51310
Stella-Jones Inc. SJ 85853F105 CA85853F1053 80.1254 8.01254
Yamana Gold Inc. YRI 98462Y100 CA98462Y1007 14.5957 1.45957
iShares Dow Jones Canada Select Dividend Index Fund XDV 46430W102 CA46430W1023 22.5230 2.25230
iShares S&P 500 Index Fund CAD-Hedged XSP 46428J105 CA46428J1057 17.5282 1.75282
iShares S&P US Dividend Growers Index Fund CAD CUD 46433G104 CA46433G1046 25.5378 2.55378
iShares S&P/TSX 60 Index Fund XIU 46428D108 CA46428D1087 18.5539 1.85539
iShares S&P/TSX Canadian Preferred Share Index Fund CPD 46431G205 CA46431G2053 17.3425 1.73425
BCE Inc. BCE 05534B760 CA05534B7604 46.9005 4.63180
Rogers Communications Inc. RCI.B 775109200 CA7751092007 49.2696 4.88346
TELUS Corp. T 87971M103 CA87971M1032 70.7706 7.01306
Emera Inc. EMA 290876101 CA2908761018 35.5959 3.55959
Fortis Inc./Canada FTS 349553107 CA3495531079 33.6222 3.36222
TransAlta Corp. TA 89346D107 CA89346D1078 15.2599 1.52599
Astral Media Inc. ACM.A 046346201 CA0463462014 48.6511 4.86511
Canadian Tire Corp Ltd. CTC.A 136681202 CA1366812024 69.4695 6.94695
Cineplex Inc. CGX 172454100 CA1724541000 34.0768 3.40768
Cogeco Cable Inc. CCA 19238V105 CA19238V1058 44.1436 4.41436
Corus Entertainment Inc. CJR.B 220874101 CA2208741017 25.7661 2.56811
Dorel Industries Inc. DII.B 25822C205 CA25822C2058 38.8181 3.88181
Linamar Corp. LNR 53278L107 CA53278L1076 24.7270 2.47270
Magna International Inc. MG 559222401 CA5592224011 56.9157 5.65957
Shaw Communications Inc. SJR.B 82028K200 CA82028K2002 24.6196 2.45346
Tim Hortons Inc. THI 88706M103 CA88706M1032 51.3088 5.13088
Alimentation Couche Tard Inc. ATD.B 01626P403 CA01626P4033 53.7786 5.37786
Jean Coutu Group PJC Inc., The PJC.A 47215Q104 CA47215Q1046 15.7274 1.57274
Metro Inc. MRU 59162N109 CA59162N1096 64.8088 6.48088
Saputo Inc. SAP 802912105 CA8029121057 50.7183 5.07183
Shoppers Drug Mart Corp. SC 82509W103 CA82509W1032 43.0890 4.30890
           

The syndicate of agents is being co-led by CIBC and RBC Capital Markets and includes Scotiabank, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Raymond James Ltd., GMP Securities L.P., Mackie Research Capital Corporation, Middlefield Capital Corporation and Dundee Securities Ltd.

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: Global Dividend Growers Income Fund

For further information:

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.


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