HBanc Capital Securities Trust Extends Exchange Option Deadline
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, Sept. 21 /CNW/ - Connor, Clark & Lunn Capital Markets Inc. (the "Manager") announces that the deadline for prospective purchasers of Units of HBanc Capital Securities Trust (the "Fund") under the Exchange Option to deposit securities of Exchange Eligible Issuers with the Exchange Agent, Computershare Investor Services Inc., has been extended to 5:00 p.m. (Toronto time) on September 24, 2010. Please be advised that dealer participants may have an earlier deadline for receiving instructions from its clients to deposit securities into the Exchange Option.
Prospective purchasers may purchase Units either by (i) cash payment or (ii) an exchange of freely tradeable securities of any Exchange Eligible Issuer listed in the Fund's prospectus. As a result of the extended deadline, the number of Units issuable in exchange for the securities of an Exchange Eligible Issuer will be determined based on pricing during the five consecutive trading days ending on September 24, 2010, subject to certain adjustments, all as more fully described in the Fund's preliminary prospectus dated August 31, 2010.
The Fund was established to provide investors with high levels of stable, tax-advantaged distributions through exposure to Capital Securities issued by HSBC Holdings plc, a conservatively positioned and strongly capitalized global bank.
The Units are being offered for sale by a syndicate of agents led by BMO Capital Markets and HSBC Securities (Canada) Inc., and includes CIBC, RBC Capital Markets, National Bank Financial Inc., Scotia Capital Inc., GMP Securities L.P., Canaccord Genuity Corp., Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Desjardins Securities Inc., Mackie Research Capital Corporation and Wellington West Capital Markets Inc.
A preliminary prospectus relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada but has not yet become final for the purpose of distribution to the public. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in such province or territory.
A copy of the preliminary prospectus may be obtained from any of the above-mentioned agents.
For further information: please visit www.cclcapitalmarkets.com or contact: Darren Cabral, Vice President, Connor, Clark & Lunn Capital Markets Inc., (416) 214-6182 or 1 (888) 276-2258, [email protected]
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