CALGARY, May 30, 2014 /CNW/ - Middlefield Group, on behalf of Global
Infrastructure Dividend Fund (the "Fund"), is pleased to announce that
it has filed a preliminary prospectus in relation to an initial public
offering of units at a price of $10.00 per unit.
The Fund's investment objectives are to provide holders of units with:
(i) stable monthly cash distributions; and
(ii) long-term total return through distributions and capital
appreciation of the Fund's investment portfolio;
through an investment strategy which focuses on a diversified, actively
managed portfolio comprised primarily of dividend-paying global issuers
that own, develop, operate, support or maintain assets or businesses
related to infrastructure, energy transportation or real estate.
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 Limited, the manager, intends that on or about July 28,
2016, the Fund will, subject to applicable laws and receipt of any
regulatory approvals required, merge on a tax-deferred basis with
Middlefield Global Infrastructure Fund, an open-end mutual fund.
Prospective purchasers investing in Global Infrastructure Dividend Fund will have the option of paying for units in cash or by exchanging
securities of issuers listed in the preliminary prospectus. Prospective purchasers under the exchange option are required to deposit
their exchange eligible securities prior to 5:00 p.m. (Toronto time) on
June 19, 2014 in the manner described in the preliminary prospectus.
The syndicate of agents is being co-led by CIBC, RBC Capital Markets and
Scotiabank and includes BMO Capital Markets, National Bank Financial
Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp.,
Raymond James Ltd., Middlefield Capital Corporation, Dundee Securities
Ltd., Mackie Research Capital Corporation and Manulife Securities
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in all jurisdictions of Canada. The preliminary prospectus
is still subject to completion or amendment. Copies of the preliminary
prospectus may be obtained from any of the agents named above using the
contact information for such agent. There will not be any sale or any
acceptance of an offer to buy the securities until a receipt for the
final prospectus has been issued.
SOURCE: Global Infrastructure Dividend Fund
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.