Middlefield Healthcare & Life Sciences Dividend Fund Announces Exchange Ratios

CALGARY, July 6, 2017 /CNW/ - Middlefield Group, on behalf of Middlefield Healthcare & Life Sciences Dividend 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 June 23, 2017.

The Fund's investment objectives are to provide holders of units of the Fund ("Units") with:

(i)  stable monthly cash distributions, and

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

The Fund's investment strategy will focus primarily on investing in dividend-paying securities of issuers operating in, or that derive a significant portion of their revenue or earnings from, products or services related to the healthcare, life sciences and related industries.

The initial target distribution yield for the Fund is 5% per annum based on the original subscription price (or $0.04167 per Unit per month or $0.50 per Unit per annum).

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 July 6, 2017 (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. The Exchange Ratio for any such securities that do not trade in Canadian dollars was determined by converting the weighted average trading price on the applicable exchange of such securities into Canadian dollars based on today's Bank of Canada daily exchange rate. 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 Ratio.

Name

Ticker

CUSIP

ISIN

VWAP

Exchange Ratio







Healthcare






Aetna Inc.               

AET

00817Y108

US00817Y1082

197.4410

19.67936

Agilent Technologies Inc.      

A

00846U101

US00846U1016

76.8656

7.68655

AmerisourceBergen Corp.     

ABC

03073E105

US03073E1055

122.6222

12.26221

Anthem Inc.           

ANTM

036752103

US0367521038

244.9360

24.49359

Baxter International Inc.        

BAX

071813109

US0718131099

78.1931

7.81930

Becton Dickinson and Co.      

BDX

075887109

US0758871091

252.6789

25.26788

Boston Scientific Corp.          

BSX

101137107

US1011371077

35.7632

3.57631

Cardinal Health Inc.

CAH

14149Y108

US14149Y1082

101.0145

10.10145

Centene Corp.        

CNC

15135B101

US15135B1017

103.9090

10.39089

Cerner Corp.           

CERN

156782104

US1567821046

85.4288

8.54288

Chartwell Retirement Residences        

CSH.UN

16141A103

CA16141A1030

15.3986

1.53986

Cigna Corp.             

CI

125509109

US1255091092

217.1334

21.71334

DENTSPLY SIRONA Inc.          

XRAY

24906P109

US24906P1093

83.7267

8.37267

Express Scripts Holding Co.

ESRX

30219G108

US30219G1085

82.5080

8.25079

Extendicare Inc.     

EXE

30224T863

CA30224T8639

10.2663

1.02663

HCA Healthcare Inc.              

HCA

40412C101

US40412C1018

112.0563

11.20563

Humana Inc.          

HUM

444859102

US4448591028

310.7346

31.07345

Jean Coutu Group PJC Inc./The              

PJC.A

47215Q104

CA47215Q1046

19.7901

1.97901

Laboratory Corp of America Holdings   

LH

50540R409

US50540R4092

197.6026

19.76025

McKesson Corp.     

MCK

58155Q103

US58155Q1031

212.6856

21.26855

Medical Facilities Corp.         

DR

58457V503

CA58457V5036

14.3345

1.43345

Medical Properties Trust Inc.

MPW

58463J304

US58463J3041

16.5388

1.65387

NorthWest Healthcare Properties Real Estate Investment Trust   

NWH.UN

667495105

CA6674951059

10.7052

1.07052

PerkinElmer Inc.

PKI

714046109

US7140461093

88.1226

8.81226

Quest Diagnostics Inc.

DGX

74834L100

US74834L1008

143.0994

14.25168

Sabra Health Care REIT Inc.

SBRA

78573L106

US78573L1061

30.7524

3.07524

Senior Housing Properties Trust           

SNH

81721M109

US81721M1099

26.3445

2.63444

Sienna Senior Living Inc.

SIA

82621K102

CA82621K1021

17.8718

1.78718

Thermo Fisher Scientific Inc.

TMO

883556102

US8835561023

226.3664

22.63663

UnitedHealth Group Inc.

UNH

91324P102

US91324P1021

241.2870

24.12870

Universal Health Services Inc.

UHS

913903100

US9139031002

157.3936

15.73935







Life Sciences






Abbott Laboratories               

ABT

002824100

US0028241000

63.0255

6.26824

AbbVie Inc.             

ABBV

00287Y109

US00287Y1091

93.6587

9.28301

Alexion Pharmaceuticals Inc.

ALXN

015351109

US0153511094

158.5722

15.85721

Allergan PLC           

AGN

N/A

IE00BY9D5467

315.5756

31.55755

Amgen Inc.             

AMGN

031162100

US0311621009

223.8090

22.38090

Biogen Inc.             

BIIB

09062X103

US09062X1037

353.7003

35.37002

BioMarin Pharmaceutical Inc.               

BMRN

09061G101

US09061G1013

117.1375

11.71374

Bristol-Myers Squibb Co.       

BMY

110122108

US1101221083

72.3921

7.18871

Celgene Corp.         

CELG

151020104

US1510201049

170.2575

17.02575

Eli Lilly & Co.          

LLY

532457108

US5324571083

106.5008

10.65007

Gilead Sciences Inc.

GILD

375558103

US3755581036

91.4019

9.14018

Illumina Inc.

ILMN

452327109

US4523271090

225.7966

22.57966

Incyte Corp.            

INCY

45337C102

US45337C1027

165.2363

16.52362

Johnson & Johnson

JNJ

478160104

US4781601046

172.0887

17.20887

Mallinckrodt PLC    

MNK

N/A

IE00BBGT3753

57.5325

5.75325

Merck & Co Inc.

MRK

58933Y105

US58933Y1055

82.8649

8.28648

Mylan NV               

MYL

N/A

NL0011031208

49.8405

4.98405

Pfizer Inc.

PFE

717081103

US7170811035

43.4751

4.34751

Regeneron Pharmaceuticals Inc.

REGN

75886F107

US75886F1075

641.5436

64.15435

Seattle Genetics Inc.

SGEN

812578102

US8125781026

67.3769

6.73769

Shire PLC

SHPG

82481R106

US82481R1068

215.4664

21.54663

Valeant Pharmaceuticals International Inc.

VRX

91911K102

CA91911K1021

22.3797

2.23797

Vertex Pharmaceuticals Inc.

VRTX

92532F100

US92532F1003

166.1009

16.61009

Zoetis Inc.

ZTS

98978V103

US98978V1035

80.8510

8.08510







Other






AltaGas Ltd.           

ALA

021361100

CA0213611001

29.5276

2.95276

AltaGas Ltd. - Subscription Receipt

ALA/R

021361142

CA0213611423

29.1881

2.91881

ARC Resources Ltd.

ARX

00208D408

CA00208D4084

16.9498

1.69498

Artis Real Estate Investment Trust       

AX.UN

04315L105

CA04315L1058

13.0984

1.30984

Bank of Montreal

BMO

063671101

CA0636711016

95.6371

9.56371

Bank of Nova Scotia/The       

BNS

064149107

CA0641491075

78.2576

7.82576

BCE Inc.

BCE

05534B760

CA05534B7604

58.4456

5.84456

Bonavista Energy Corp.

BNP

09784Y108

CA09784Y1088

2.6997

0.26997

Canadian Imperial Bank of Commerce 

CM

136069101

CA1360691010

105.9099

10.59099

Capital Power Corp.

CPX

14042M102

CA14042M1023

24.1628

2.41628

Cenovus Energy Inc.

CVE

15135U109

CA15135U1093

9.3994

0.93994

CGI Group Inc.

GIB.A

39945C109

CA39945C1095

65.7374

6.57374

CI Financial Corp.

CIX

125491100

CA1254911003

27.7348

2.77348

Crescent Point Energy Corp.

CPG

22576C101

CA22576C1014

9.7065

0.97065

Crombie Real Estate Investment Trust 

CRR.UN

227107109

CA2271071094

14.0060

1.40060

Dream Industrial Real Estate Investment Trust   

DIR.UN

26153W109

CA26153W1095

8.6422

0.86422

Emera Inc.

EMA

290876101

CA2908761018

48.0039

4.80039

Enbridge Inc.

ENB

29250N105

CA29250N1050

51.7365

5.17365

Enbridge Income Fund Holdings Inc.

ENF

29251R105

CA29251R1055

32.1351

3.21351

First Capital Realty Inc.

FCR

31943B100

CA31943B1004

19.6687

1.96687

Fortis Inc./Canada

FTS

349553107

CA3495531079

45.4944

4.54944

Husky Energy Inc. Cumulative Redeemable Preferred Shares Series 7

HSE.PR.G

448055806

CA4480558069

24.4728

2.44727

Hydro One Ltd.       

H

448811208

CA4488112083

22.9834

2.29834

Intact Financial Corp. - Subscription Receipt        

IFC/R

45823T148

CA45823T1488

95.4240

9.54240

Inter Pipeline Ltd.

IPL

45833V109

CA45833V1094

25.2736

2.52736

Kinder Morgan

KML

494549207

CA4945492078

15.9124

1.59124

Manulife Financial Corp.

MFC

56501R106

CA56501R1064

24.4633

2.44633

National Bank of Canada       

NA

633067103

CA6330671034

54.8049

5.48049

Pembina Pipeline Corp.         

PPL

706327103

CA7063271034

42.8840

4.28840

Power Financial Corp.            

PWF

73927C100

CA73927C1005

33.3179

3.33179

Pure Industrial Real Estate Trust          

AAR.UN

74623T108

CA74623T1084

6.8168

0.68168

Royal Bank of Canada            

RY

780087102

CA7800871021

94.5891

9.45891

SNC-Lavalin Group Inc. - Subscription Receipt     

SNC/R

78460T113

CA78460T1131

56.4936

5.64936

Source Energy Services Ltd.

SHLE

83615X100

CA83615X1006

7.7100

0.77100

STEP Energy Services Ltd.

STEP

85859H105

CA85859H1055

8.6841

0.86841

Sun Life Financial Inc.

SLF

866796105

CA8667961053

46.4174

4.64174

Suncor Energy Inc.

SU

867224107

CA8672241079

37.7098

3.77098

TELUS Corp.

T

87971M103

CA87971M1032

44.6998

4.46998

Toronto-Dominion Bank/The 

TD

891160509

CA8911605092

65.5204

6.49204

TransCanada Corp.

TRP

89353D107

CA89353D1078

61.9404

6.19404

Veresen Inc.

VSN

92340R106

CA92340R1064

18.2795

1.82795







Funds






iShares Core S&P 500 Index ETF CAD- Hedged     

XSP

46428J105

CA46428J1057

27.6262

2.76262

iShares Core S&P/TSX Capped Composite Index ETF

XIC

46430J101

CA46430J1012

24.0937

2.40937

iShares Global Healthcare Index ETF CAD-Hedged               

XHC

46431R102

CA46431R1029

43.3120

4.33120

iShares S&P/TSX 60 Index ETF              

XIU

46428D108

CA46428D1087

22.4419

2.24419

 

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

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 using the contact information for such advisor.  Investors should read the prospectus before making an investment decision.

SOURCE Middlefield Healthcare & Life Sciences Dividend Fund

For further information: please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury in our Sales and Marketing Department at 1.888.890.1868.


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