TORONTO, Dec. 19, 2012 /CNW/ - Middlefield is pleased to announce the successful completion, effective December 19, 2012 (the "Effective Date"), of the previously announced merger of INDEXPLUS Income Fund and INDEXPLUS Dividend Fund with INDEXPLUS Income Fund being the continuing fund.
Pursuant to the merger each INDEXPLUS Dividend Fund unit was automatically exchanged for 0.77023960 units of INDEXPLUS Income Fund. This exchange ratio was based on the relative net asset values, on an unrounded basis, of INDEXPLUS Dividend Fund and INDEXPLUS Income Fund as at the close of trading on the Toronto Stock Exchange (the "TSX") on December 18, 2012, which were approximately $9.58 per unit and $12.43 per unit, respectively. The merger was effected on a tax-deferred "rollover" basis.
Unitholders of INDEXPLUS Dividend Fund are not required to take any action in order to be recognized as unitholders of INDEXPLUS Income Fund and to be in a position to trade units of INDEXPLUS Income Fund on the TSX. Former unitholders of INDEXPLUS Dividend Fund who wish to participate in the distribution reinvestment plan of INDEXPLUS Income Fund will need to enroll in the INDEXPLUS Income Fund DRIP.
Unitholders of INDEXPLUS Income Fund are not required to take any action as they will automatically continue as unitholders of the continuing fund.
The units of INDEXPLUS Income Fund trade on the TSX under the symbol IDX.UN.
This press release may contain forward-looking information, including statements regarding fund assets resulting from the merger. These forward-looking statements are subject to various risks and uncertainties that could cause estimates to differ materially from the expectations expressed. The forward-looking information contained in this press release constitutes each fund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents each fund's estimate as of any date other than the date of this press release.
SOURCE: INDEXPLUS 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.