Global Dividend Growers Income Fund Announces Exchange Ratios
CALGARY, March 7, 2013 /CNW/ - Middlefield Group, on behalf of Global Dividend Growers Income 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 February 26, 2013.
The Fund's investment objectives are to:
(i) provide holders of units with stable monthly cash distributions and to grow distributions over time, and
(ii) enhance long-term total return through capital appreciation of the Fund's investment portfolio,
through an investment strategy which combines passive and active portfolio management and entails investing primarily in securities of global, including Canadian and U.S., issuers which have exhibited strong dividend growth.
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 Capital Corporation will act as the investment advisor to the Fund.
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 March 7, 2013 (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. 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 Ratios.
| NAME | TICKER | CUSIP | ISIN | VWAP | EXCHANGE RATIO |
| ENERGY SECURITIES | |||||
| Baytex Energy Corp. | BTE | 07317Q105 | CA07317Q1054 | 43.6667 | 4.36667 |
| Calfrac Well Services Ltd. | CFW | 129584108 | CA1295841086 | 24.7895 | 2.47895 |
| Cameco Corp. | CCO | 13321L108 | CA13321L1085 | 21.3670 | 2.13670 |
| Canadian Natural Resources Ltd. | CNQ | 136385101 | CA1363851017 | 31.4146 | 3.12896 |
| Crescent Point Energy Corp. | CPG | 22576C101 | CA22576C1014 | 38.5376 | 3.85376 |
| Enbridge Inc. | ENB | 29250N105 | CA29250N1050 | 46.0105 | 4.60105 |
| Enbridge Income Fund Holdings Inc. | ENF | 29251R105 | CA29251R1055 | 25.2228 | 2.52228 |
| Enerplus Corp. | ERF | 292766102 | CA2927661025 | 14.1924 | 1.41924 |
| Ensign Energy Services Inc. | ESI | 293570107 | CA2935701078 | 17.2156 | 1.72156 |
| Imperial Oil Ltd. | IMO | 453038408 | CA4530384086 | 43.1063 | 4.31063 |
| Inter Pipeline Fund | IPL.UN | 45833P102 | CA45833P1027 | 23.5042 | 2.35042 |
| Keyera Corp. | KEY | 493271100 | CA4932711001 | 54.9477 | 5.49477 |
| Pason Systems Inc. | PSI | 702925108 | CA7029251088 | 16.3031 | 1.61731 |
| Pembina Pipeline Corp. | PPL | 706327103 | CA7063271034 | 30.4476 | 3.04476 |
| ShawCor Ltd. | SCL.A | 820904209 | CA8209042099 | 39.5966 | 3.94966 |
| Suncor Energy Inc. | SU | 867224107 | CA8672241079 | 31.0784 | 3.10784 |
| Talisman Energy Inc. | TLM | 87425E103 | CA87425E1034 | 12.6166 | 1.25491 |
| TransCanada Corp. | TRP | 89353D107 | CA89353D1078 | 48.4361 | 4.84361 |
| Trican Well Service Ltd. | TCW | 895945103 | CA8959451037 | 13.3940 | 1.33940 |
| Veresen Inc. | VSN | 92340R106 | CA92340R1064 | 12.8600 | 1.28600 |
| Vermilion Energy Inc. | VET | 923725105 | CA9237251058 | 52.7293 | 5.27293 |
| FINANCIAL SERVICE SECURITIES | |||||
| AGF Management Ltd. | AGF.B | 001092105 | CA0010921058 | 11.4134 | 1.14134 |
| Bank of Montreal | BMO | 063671101 | CA0636711016 | 64.0617 | 6.40617 |
| Bank of Nova Scotia | BNS | 064149107 | CA0641491075 | 61.1590 | 6.11590 |
| Canadian Imperial Bank of Commerce | CM | 136069101 | CA1360691010 | 83.2517 | 8.32517 |
| Canadian Western Bank | CWB | 13677F101 | CA13677F1018 | 29.8178 | 2.96478 |
| Great-West Lifeco Inc. | GWO | 39138C106 | CA39138C1068 | 27.4442 | 2.74442 |
| Home Capital Group Inc. | HCG | 436913107 | CA4369131079 | 56.7607 | 5.67607 |
| IGM Financial Inc. | IGM | 449586106 | CA4495861060 | 45.5675 | 4.55675 |
| Industrial Alliance Insurance & Financial Services Inc. | IAG | 455871103 | CA4558711038 | 36.9048 | 3.69048 |
| Intact Financial Corp. | IFC | 45823T106 | CA45823T1066 | 65.5423 | 6.51023 |
| iShares S&P/TSX Capped Financial Index Fund | XFN | 46431B107 | CA46431B1076 | 25.2632 | 2.52632 |
| Laurentian Bank of Canada | LB | 51925D106 | CA51925D1069 | 45.0156 | 4.50156 |
| National Bank of Canada | NA | 633067103 | CA6330671034 | 77.7613 | 7.77613 |
| Power Corp of Canada | POW | 739239101 | CA7392391016 | 27.5421 | 2.75421 |
| Power Financial Corp. | PWF | 73927C100 | CA73927C1005 | 29.7750 | 2.97750 |
| Royal Bank of Canada | RY | 780087102 | CA7800871021 | 63.4460 | 6.34460 |
| Toronto-Dominion Bank, The | TD | 891160509 | CA8911605092 | 85.3594 | 8.53594 |
| REAL ESTATE INVESTMENT TRUSTS | |||||
| Allied Properties REIT | AP.UN | 019456102 | CA0194561027 | 33.9164 | 3.39164 |
| Artis Real Estate Investment Trust | AX.UN | 04315L105 | CA04315L1058 | 16.0227 | 1.60227 |
| Boardwalk Real Estate Investment Trust | BEI.UN | 096631106 | CA0966311064 | 64.2013 | 6.42013 |
| Calloway Real Estate Investment Trust | CWT.UN | 131253205 | CA1312532056 | 29.3101 | 2.93101 |
| Canadian Apartment Properties REIT | CAR.UN | 134921105 | CA1349211054 | 25.4185 | 2.54185 |
| Canadian Real Estate Investment Trust | REF.UN | 13650J104 | CA13650J1049 | 46.6934 | 4.66934 |
| Chartwell Retirement Residences | CSH.UN | 16141A103 | CA16141A1030 | 10.9979 | 1.09979 |
| Cominar Real Estate Investment Trust | CUF.UN | 199910100 | CA1999101001 | 22.3556 | 2.23556 |
| Crombie Real Estate Investment Trust | CRR.UN | 227107109 | CA2271071094 | 14.6872 | 1.46872 |
| Dundee Real Estate Investment Trust | D.UN | 265270207 | CA2652702077 | 36.3841 | 3.63841 |
| Granite Real Estate Investment Trust | GRT.UN | 387437114 | CA3874371147 | 39.6696 | 3.96696 |
| H&R Real Estate Investment Trust | HR.UN | 404428203 | CA4044282032 | 23.0081 | 2.30081 |
| Northern Property REIT | NPR.UN | 66562P105 | CA66562P1053 | 31.7169 | 3.17169 |
| Primaris Retail Real Estate Investment Trust | PMZ.UN | 74157U109 | CA74157U1093 | 27.2507 | 2.72507 |
| RioCan Real Estate Investment Trust | REI.UN | 766910103 | CA7669101031 | 27.5185 | 2.75185 |
| iShares S&P/TSX Capped REIT Index Fund | XRE | 46431D103 | CA46431D1033 | 17.2132 | 1.72132 |
| OTHER DIVIDEND-PAYING EQUITY SECURITIES | |||||
| CAE Inc. | CAE | 124765108 | CA1247651088 | 10.1723 | 1.01223 |
| Canadian National Railway Co. | CNR | 136375102 | CA1363751027 | 104.4982 | 10.44982 |
| Canadian Pacific Railway Ltd. | CP | 13645T100 | CA13645T1003 | 128.9482 | 12.89482 |
| Finning International Inc. | FTT | 318071404 | CA3180714048 | 25.6839 | 2.56839 |
| Genivar Inc. | GNV | 37230Q205 | CA37230Q2053 | 23.5385 | 2.35385 |
| Ritchie Bros Auctioneers Inc. | RBA | 767744105 | CA7677441056 | 21.7849 | 2.17849 |
| SNC-Lavalin Group Inc. | SNC | 78460T105 | CA78460T1057 | 45.7838 | 4.57838 |
| Constellation Software Inc. | CSU | 21037X100 | CA21037X1006 | 122.1536 | 12.11536 |
| Agrium Inc. | AGU | 008916108 | CA0089161081 | 106.3522 | 10.63522 |
| Barrick Gold Corp. | ABX | 067901108 | CA0679011084 | 29.9688 | 2.99688 |
| CCL Industries Inc. | CCL.B | 124900309 | CA1249003098 | 61.5593 | 6.13443 |
| Goldcorp Inc. | G | 380956409 | CA3809564097 | 33.4886 | 3.34386 |
| IAMGOLD Corp. | IMG | 450913108 | CA4509131088 | 6.5176 | 0.65176 |
| Labrador Iron Ore Royalty Corp. | LIF | 505440107 | CA5054401073 | 36.0073 | 3.60073 |
| Methanex Corp. | MX | 59151K108 | CA59151K1084 | 38.9227 | 3.87377 |
| Potash Corp. of Saskatchewan Inc. | POT | 73755L107 | CA73755L1076 | 40.7203 | 4.07203 |
| Sherritt International Corp. | S | 823901103 | CA8239011031 | 5.1310 | 0.51310 |
| Stella-Jones Inc. | SJ | 85853F105 | CA85853F1053 | 80.1254 | 8.01254 |
| Yamana Gold Inc. | YRI | 98462Y100 | CA98462Y1007 | 14.5957 | 1.45957 |
| iShares Dow Jones Canada Select Dividend Index Fund | XDV | 46430W102 | CA46430W1023 | 22.5230 | 2.25230 |
| iShares S&P 500 Index Fund CAD-Hedged | XSP | 46428J105 | CA46428J1057 | 17.5282 | 1.75282 |
| iShares S&P US Dividend Growers Index Fund CAD | CUD | 46433G104 | CA46433G1046 | 25.5378 | 2.55378 |
| iShares S&P/TSX 60 Index Fund | XIU | 46428D108 | CA46428D1087 | 18.5539 | 1.85539 |
| iShares S&P/TSX Canadian Preferred Share Index Fund | CPD | 46431G205 | CA46431G2053 | 17.3425 | 1.73425 |
| BCE Inc. | BCE | 05534B760 | CA05534B7604 | 46.9005 | 4.63180 |
| Rogers Communications Inc. | RCI.B | 775109200 | CA7751092007 | 49.2696 | 4.88346 |
| TELUS Corp. | T | 87971M103 | CA87971M1032 | 70.7706 | 7.01306 |
| Emera Inc. | EMA | 290876101 | CA2908761018 | 35.5959 | 3.55959 |
| Fortis Inc./Canada | FTS | 349553107 | CA3495531079 | 33.6222 | 3.36222 |
| TransAlta Corp. | TA | 89346D107 | CA89346D1078 | 15.2599 | 1.52599 |
| Astral Media Inc. | ACM.A | 046346201 | CA0463462014 | 48.6511 | 4.86511 |
| Canadian Tire Corp Ltd. | CTC.A | 136681202 | CA1366812024 | 69.4695 | 6.94695 |
| Cineplex Inc. | CGX | 172454100 | CA1724541000 | 34.0768 | 3.40768 |
| Cogeco Cable Inc. | CCA | 19238V105 | CA19238V1058 | 44.1436 | 4.41436 |
| Corus Entertainment Inc. | CJR.B | 220874101 | CA2208741017 | 25.7661 | 2.56811 |
| Dorel Industries Inc. | DII.B | 25822C205 | CA25822C2058 | 38.8181 | 3.88181 |
| Linamar Corp. | LNR | 53278L107 | CA53278L1076 | 24.7270 | 2.47270 |
| Magna International Inc. | MG | 559222401 | CA5592224011 | 56.9157 | 5.65957 |
| Shaw Communications Inc. | SJR.B | 82028K200 | CA82028K2002 | 24.6196 | 2.45346 |
| Tim Hortons Inc. | THI | 88706M103 | CA88706M1032 | 51.3088 | 5.13088 |
| Alimentation Couche Tard Inc. | ATD.B | 01626P403 | CA01626P4033 | 53.7786 | 5.37786 |
| Jean Coutu Group PJC Inc., The | PJC.A | 47215Q104 | CA47215Q1046 | 15.7274 | 1.57274 |
| Metro Inc. | MRU | 59162N109 | CA59162N1096 | 64.8088 | 6.48088 |
| Saputo Inc. | SAP | 802912105 | CA8029121057 | 50.7183 | 5.07183 |
| Shoppers Drug Mart Corp. | SC | 82509W103 | CA82509W1032 | 43.0890 | 4.30890 |
The syndicate of agents is being co-led by CIBC and RBC Capital Markets and includes Scotiabank, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Raymond James Ltd., GMP Securities L.P., Mackie Research Capital Corporation, Middlefield Capital Corporation and Dundee Securities Ltd.
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. Investors should read the prospectus before making an investment decision.
SOURCE: Global Dividend Growers Income 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.
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