Toronto Stock Exchange: TMC
TORONTO, Nov. 26, 2013 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Corporation") announced today that the automatic exchange of Class A Shares and Class B Shares for new Common Shares pursuant to the articles of amendment of the Corporation will occur on November 29, 2013 (the "Exchange Date"). The exchange ratios for the Class A Shares and Class B Shares to Common Shares are as follows:
Class A = 1:1
Class B = 1:1.0638 (representing the quotient obtained by dividing the NRV per Class B Share by the NRV per Class A Share on October 31, 2013)
The Common Shares are expected to commence trading on the Toronto Stock Exchange at the opening of the market on November 29, 2013 under the symbol "TMC" and the Class A Shares of the Corporation will cease to trade after the close of market on November 28, 2013.
About the Corporation
The Corporation provides investors with an opportunity to receive attractive yields by investing indirectly, through holding shares of the Corporation, in mortgage loan investments selected and determined to be high quality by its manager, Timbercreek Asset Management Inc. The investment objective of the Corporation is, with a primary focus on capital preservation, to acquire and maintain a diversified portfolio of mortgage loan investments that generates attractive, stable returns in order to permit the Corporation to pay monthly distributions to its shareholders.
For more information about the Corporation, and its Manager, Timbercreek Asset Management, please visit www.timbercreek.com.
SOURCE: Timbercreek Mortgage Investment Corporation
For further information:
Timbercreek Asset Management Inc.