North American Preferred Share Fund Announces Exchange Ratios

TORONTO, April 29, 2013 /CNW/ - North American Preferred Share Fund (the "Fund") is pleased to announce the exchange ratios for the exchange offer by the Fund being made under the final prospectus dated April 19, 2013. The closing of the initial public offering of transferable trust units (the "Units") at $25.00 per Unit is scheduled to occur on or about May 8, 2013. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Units under the symbol NPF.UN, subject to the fulfillment of TSX requirements.

The number of Units issuable in exchange (the "Exchange Ratio") for the securities of an Exchange Eligible Issuer deposited by a prospective purchaser pursuant to the Exchange Option was determined by dividing the volume weighted average trading price of such securities during the five consecutive trading days ending on April 29, 2013 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $25.00. For greater certainty, the distribution payable on the securities of any Exchange Eligible Issuer that are deposited under the Exchange Option and which have a record date before the Closing will be received by the prospective purchaser who deposited such securities and not by the Fund. The Exchange Ratios will be rounded down to four decimal places.

The following table specifies for each of the securities that have been deposited: (i) the name of issuer; (ii) the trading symbol; (iii) the CUSIP; (iv) the ISIN; (v) the volume weighted average trading price ("VWAP") during the Pricing Period in Canadian dollar terms; and (vi) the Exchange Ratio.

Name	TSX Symbol	ISIN	CUSIP	VWAP in CAD Terms($)	Exchange Ratio
BROOKFIELD ASSET MAN INC	BAM A PFD	CA1125856411	112585641	26.7960	1.0718
BROOKFIELD ASSET MGMNT	BAM R PFD	CA1125857401	112585740	26.5484	1.0619
BROOKFIELD ASSET MAN INC	BAM T PFD	CA1125857245	112585724	25.8522	1.0340
BROOKFIELD ASSET MAN INC	BAM Z PFD	CA1125856668	112585666	26.9188	1.0767
BROOKFIELD ASSET MAN INC	BAM/ FB PFD	CA1125856254	112585625	25.8502	1.0340
BCE INC	BCE F PFD	CA05534B7455	05534B745	24.5080	0.9803
BANK OF MONTREAL	BMO K PFD	CA0636711438	63671143	26.3882	1.0424
BANK OF MONTREAL	BMO P PFD	CA0636717476	63671747	26.7996	1.0584
BANK OF NOVA SCOTIA	BNS X PFD	CA0641496512	64149651	25.9931	1.0397
BANK OF NOVA SCOTIA	BNS Z PFD	CA0641496108	64149610	25.0337	1.0013
BROOKFIELD OFFICE PROP	BPO L PFD	CA1129008571	112900857	26.2477	1.0499
BROOKFIELD OFFICE PROP	BPO N PFD	CA1129008324	112900832	26.9197	1.0767
BROOKFIELD OFFICE PROP	BPO P PFD	CA1129008167	112900816	26.3763	1.0550
BROOKFIELD RENEW POW PFD	BRF C PFD	CA11283Q4043	11283Q404	25.4986	1.0199
CANADIAN IMPERIAL BANK	CM K PFD	CA1360694998	136069499	26.1307	1.0452
ENBRIDGE INC	ENB F PFD	CA29250N8659	29250N865	25.8864	1.0354
ENBRIDGE INC	ENB P PFD	CA29250N7586	29250N758	25.8576	1.0343
FAIRFAX FINL HLDGS LTD	FFH E PFD	CA3039018880	303901888	24.0213	0.9608
FAIRFAX FINL HLDGS LTD	FFH G PFD	CA3039018625	303901862	24.7384	0.9895
FAIRFAX FINL HLDGS LTD	FFH I PFD	CA3039018476	303901847	25.5034	1.0201
GREAT-WEST LIFECO INC	GWO G PFD	CA39138C8824	39138C882	25.7043	1.0281
GREAT-WEST LIFECO INC	GWO H PFD	CA39138C8741	39138C874	25.3905	1.0156
GREAT-WEST LIFECO INC	GWO I PFD	CA39138C8667	39138C866	24.6999	0.9879
HUSKY ENERGY INC	HSE A PFD	CA4480552021	448055202	25.7660	1.0306
INDUSTRIAL ALLIANCE	IAG F PFD	CA4558715096	455871509	26.7915	1.0716
MANULIFE FINANCIAL	MFC B PFD	CA56501R4035	56501R403	24.9097	0.9963
MANULIFE FINANCIAL CORP	MFC C PFD	CA56501R5024	56501R502	24.7818	0.9912
MANULIFE FINANCIAL CORP	MFC D PFD	CA56501R8093	56501R809	26.3680	1.0547
MANULIFE FINANCIAL CORP	MFC E PFD	CA56501R8747	56501R874	26.2370	1.0494
MANULIFE FINANCIAL CORP	MFC H PFD	CA56501R8176	56501R817	26.4953	1.0598
NATIONAL BANK	NA M PFD	CA6330674186	633067418	26.4486	1.0579
POWER FINANCIAL CORP	PWF R PFD	CA73927C7531	73927C753	26.8385	1.0735
ROYAL BK CANADA	RY G PFD	CA7801025544	780102554	25.5871	1.0234
ROYAL BK CANADA	RY P PFD	CA7800865007	780086500	25.6876	1.0275
ROYAL BK CANADA	RY R PFD	CA7800867086	780086708	25.6930	1.0277
ROYAL BANK OF CANADA	RY W PFD	CA7800855024	780085502	25.3594	1.0143
SUN LIFE FINANCIAL INC	SLF C PFD	CA8667964024	866796402	24.6404	0.9856
SUN LIFE FINANCIAL INC	SLF D PFD	CA8667965013	866796501	24.6591	0.9863
SUN LIFE FINANCIAL INC	SLF I PFD	CA8667968322	866796832	26.1250	1.0450
TORONTO-DOMINION BANK	TD AG PFD	CA8911457999	891145799	26.0618	1.0424
TORONTO-DOMINION BANK	TD O PFD	CA8911606819	891160681	25.7704	1.0308

The syndicate of agents for this offering is being led by CIBC, National Bank Financial Inc., and RBC Capital Markets, and includes BMO Capital Markets, GMP Securities L.P., Scotiabank, TD Securities Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Corporation, and Manulife Securities Inc.

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 one of the above-noted agents. Investors should read the prospectus before making an investment decision.  

 

SOURCE: North American Preferred Share Fund

please call Raj Lala, President, Propel Capital at 416-572-2364 or visit  www.propelcapital.ca