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 Incorporated.
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.