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14.03.2018 23:49:00
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Global Innovation Dividend Fund Announces Exchange Ratios
CALGARY, March 14, 2018 /CNW/ - Middlefield Group, on behalf of Global Innovation Dividend 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 22, 2018.
The Fund's investment objectives are to provide holders of units of the Fund ("Units") with:
(i) stable monthly cash distributions, and
(ii) enhanced long-term total return through capital appreciation of the Fund's investment portfolio;
through a diversified, actively managed portfolio comprised primarily of dividend-paying securities of global issuers focused on, involved in, or that derive a significant portion of their revenue from, the development or commercialization of products or services related to major technological innovations including the use of blockchain technology, genomics, artificial intelligence, big data, e-commerce, cybersecurity, the internet of things and autonomous vehicles (collectively, "Global Innovators").
The initial target distribution yield for the Fund is 4% per annum based on the original subscription price (or $0.033 per unit per month or $0.40 per unit per annum).
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 14, 2018 (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. The Exchange Ratio for any such securities that do not trade in Canadian dollars was determined by converting the weighted average trading price on the applicable exchange of such securities into Canadian dollars based on today's Bank of Canada daily exchange rate. 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 Ratio.
Name | Ticker | CUSIP | ISIN | VWAP | Exchange Ratio |
3D Systems Corp | DDD | 88554D205 | US88554D2053 | 15.7288 | 1.57287 |
3M Co | MMM | 88579Y101 | US88579Y1010 | 308.3973 | 30.83972 |
AbbVie Inc | ABBV | 00287Y109 | US00287Y1091 | 153.5002 | 15.35001 |
Adobe Systems Inc | ADBE | 00724F101 | US00724F1012 | 284.5248 | 28.45247 |
Advanced Micro Devices Inc | AMD | 007903107 | US0079031078 | 15.0976 | 1.50976 |
Agilent Technologies Inc | A | 00846U101 | US00846U1016 | 91.2289 | 9.12289 |
Alphabet Inc | GOOGL | 02079K305 | US02079K3059 | 1490.1784 | 149.01783 |
AltaGas Ltd | ALA | 021361100 | CA0213611001 | 23.7341 | 2.37341 |
Amazon.com Inc | AMZN | 023135106 | US0231351067 | 2051.4731 | 205.14730 |
Apple Inc | AAPL | 037833100 | US0378331005 | 232.5960 | 23.25960 |
ARC Resources Ltd | ARX | 00208D408 | CA00208D4084 | 12.7416 | 1.27416 |
AT&T Inc | T (NYSE) | 00206R102 | US00206R1023 | 48.1420 | 4.81419 |
Bank of Montreal | BMO | 063671101 | CA0636711016 | 97.9866 | 9.79866 |
Bank of Nova Scotia/The | BNS | 064149107 | CA0641491075 | 80.8492 | 8.08492 |
BCE Inc | BCE | 05534B760 | CA05534B7604 | 56.9287 | 5.61737 |
Becton Dickinson and Co | BDX | 075887109 | US0758871091 | 290.4597 | 29.04597 |
Biogen Inc | BIIB | 09062X103 | US09062X1037 | 367.5274 | 36.75274 |
BlackBerry Ltd | BB | 09228F103 | CA09228F1036 | 16.5574 | 1.65574 |
Bristol-Myers Squibb Co | BMY | 110122108 | US1101221083 | 86.8561 | 8.68560 |
Canadian Imperial Bank of Commerce | CM | 136069101 | CA1360691010 | 117.9464 | 11.79464 |
Canadian Natural Resources Ltd | CNQ | 136385101 | CA1363851017 | 38.8716 | 3.85366 |
Celgene Corp | CELG | 151020104 | US1510201049 | 118.9873 | 11.89873 |
CGI Group Inc | GIB.A | 39945C109 | CA39945C1095 | 76.1945 | 7.61945 |
Chartwell Retirement Residences | CSH.UN | 16141A103 | CA16141A1030 | 15.4961 | 1.54961 |
CI Financial Corp | CIX | 125491100 | CA1254911003 | 28.5485 | 2.85485 |
Cisco Systems Inc | CSCO | 17275R102 | US17275R1023 | 58.4792 | 5.84791 |
Crescent Point Energy Corp | CPG | 22576C101 | CA22576C1014 | 8.6752 | 0.86752 |
Crown Castle International Corp | CCI | 22822V101 | US22822V1017 | 143.5534 | 14.21942 |
Cypress Semiconductor Corp | CY | 232806109 | US2328061096 | 23.8390 | 2.38389 |
eBay Inc | EBAY | 278642103 | US2786421030 | 56.1345 | 5.61345 |
Emera Inc | EMA | 290876101 | CA2908761018 | 40.7977 | 4.07977 |
Enbridge Inc | ENB | 29250N105 | CA29250N1050 | 41.9521 | 4.19521 |
Encana Corp | ECA | 292505104 | CA2925051047 | 14.1418 | 1.41268 |
Extendicare Inc | EXE | 30224T863 | CA30224T8639 | 8.8152 | 0.88152 |
Facebook Inc | FB | 30303M102 | US30303M1027 | 237.7349 | 23.77349 |
General Electric Co | GE | 369604103 | US3696041033 | 18.9736 | 1.89735 |
Gilead Sciences Inc | GILD | 375558103 | US3755581036 | 104.9568 | 10.42190 |
Great-West Lifeco Inc | GWO | 39138C106 | CA39138C1068 | 33.9774 | 3.39774 |
H&R Real Estate Investment Trust | HR.UN | 404428203 | CA4044282032 | 20.2686 | 2.01536 |
Honeywell International Inc | HON | 438516106 | US4385161066 | 196.9902 | 19.69902 |
Hydro One Ltd | H | 448811208 | CA4488112083 | 20.7049 | 2.07049 |
Illumina Inc | ILMN | 452327109 | US4523271090 | 323.3689 | 32.33689 |
Intel Corp | INTC | 458140100 | US4581401001 | 67.0159 | 6.70158 |
Inter Pipeline Ltd | IPL | 45833V109 | CA45833V1094 | 22.6332 | 2.24932 |
International Business Machines Corp | IBM | 459200101 | US4592001014 | 205.4898 | 20.54897 |
iShares Core S&P 500 Index ETF CAD- Hedged | XSP | 46428J105 | CA46428J1057 | 31.4382 | 3.14382 |
iShares Core S&P/TSX Capped Composite Index ETF | XIC | 46430J101 | CA46430J1012 | 24.8740 | 2.48740 |
iShares S&P/TSX 60 Index ETF | XIU | 46428D108 | CA46428D1087 | 23.1547 | 2.31547 |
iShares S&P/TSX Capped Information Technology Index ETF | XIT | 46428N106 | CA46428N1069 | 18.5186 | 1.85186 |
iShares S&P/TSX Capped REIT Index ETF | XRE | 46431D103 | CA46431D1033 | 16.5541 | 1.65541 |
Johnson & Johnson | JNJ | 478160104 | US4781601046 | 172.4605 | 17.24605 |
Keysight Technologies Inc | KEYS | 49338L103 | US49338L1035 | 69.4952 | 6.94951 |
Manulife Financial Corp | MFC | 56501R106 | CA56501R1064 | 24.1292 | 2.41292 |
Mastercard Inc | MA | 57636Q104 | US57636Q1040 | 234.7910 | 23.47909 |
Merck & Co Inc | MRK | 58933Y105 | US58933Y1055 | 71.3076 | 7.06862 |
Microsoft Corp | MSFT | 594918104 | US5949181045 | 123.3836 | 12.33836 |
National Bank of Canada | NA | 633067103 | CA6330671034 | 63.2503 | 6.32503 |
Netflix Inc | NFLX | 64110L106 | US64110L1061 | 416.8550 | 41.68550 |
NVIDIA Corp | NVDA | 67066G104 | US67066G1040 | 320.3131 | 32.03131 |
Oracle Corp | ORCL | 68389X105 | US68389X1054 | 68.1183 | 6.81183 |
PayPal Holdings Inc | PYPL | 70450Y103 | US70450Y1038 | 105.1334 | 10.51333 |
Pfizer Inc | PFE | 717081103 | US7170811035 | 47.3559 | 4.73558 |
Playtech Plc | PTEC | n/a | IM00B7S9G985 | 13.9484 | 1.39484 |
Prologis Inc | PLD | 74340W103 | US74340W1036 | 81.7968 | 8.11754 |
Pure Industrial Real Estate Trust | AAR.UN | 74623T108 | CA74623T1084 | 8.0609 | 0.80609 |
QUALCOMM Inc | QCOM | 747525103 | US7475251036 | 78.3882 | 7.83882 |
Quest Diagnostics Inc | DGX | 74834L100 | US74834L1008 | 136.6442 | 13.66442 |
Red Hat Inc | RHT | 756577102 | US7565771026 | 199.9051 | 19.99050 |
Regeneron Pharmaceuticals Inc | REGN | 75886F107 | US75886F1075 | 441.7893 | 44.17893 |
RioCan Real Estate Investment Trust | REI.UN | 766910103 | CA7669101031 | 23.9392 | 2.39392 |
Royal Bank of Canada | RY | 780087102 | CA7800871021 | 101.7643 | 10.17643 |
salesforce.com Inc | CRM | 79466L302 | US79466L3024 | 164.4843 | 16.44843 |
SAP SE | SAP | 803054204 | US8030542042 | 140.5146 | 14.05146 |
Seattle Genetics Inc | SGEN | 812578102 | US8125781026 | 75.1714 | 7.51713 |
SNC-Lavalin Group Inc | SNC | 78460T105 | CA78460T1057 | 56.6067 | 5.66067 |
Splunk Inc | SPLK | 848637104 | US8486371045 | 138.8263 | 13.88263 |
Sprint Corp | S | 85207U105 | US85207U1051 | 6.8356 | 0.68355 |
STAG Industrial Inc | STAG | 85254J102 | US85254J1025 | 31.0277 | 3.10276 |
Summit Industrial Income REIT | SMU.U | 866120116 | CA8661201167 | 8.0726 | 0.80726 |
Sun Life Financial Inc | SLF | 866796105 | CA8667961053 | 54.5683 | 5.45683 |
Suncor Energy Inc | SU | 867224107 | CA8672241079 | 41.8937 | 4.18937 |
Symantec Corp | SYMC | 871503108 | US8715031089 | 35.6939 | 3.56938 |
Tableau Software Inc | DATA | 87336U105 | US87336U1051 | 111.2181 | 11.12180 |
TELUS Corp | T (TSX) | 87971M103 | CA87971M1032 | 46.6411 | 4.66411 |
TESARO Inc | TSRO | 881569107 | US8815691071 | 86.4733 | 8.64732 |
Tesla Inc | TSLA | 88160R101 | US88160R1014 | 433.0063 | 43.30063 |
Texas Instruments Inc | TXN | 882508104 | US8825081040 | 143.5024 | 14.35023 |
Thermo Fisher Scientific Inc | TMO | 883556102 | US8835561023 | 279.6467 | 27.94266 |
T-Mobile US Inc | TMUS | 872590104 | US8725901040 | 84.1785 | 8.41784 |
Toronto-Dominion Bank/The | TD | 891160509 | CA8911605092 | 75.7722 | 7.57722 |
TransAlta Corp | TA | 89346D107 | CA89346D1078 | 7.3453 | 0.73453 |
Valeant Pharmaceuticals International Inc | VRX | 91911K102 | CA91911K1021 | 20.6321 | 2.06321 |
Verizon Communications Inc | VZ | 92343V104 | US92343V1044 | 63.1310 | 6.31309 |
Vertex Pharmaceuticals Inc | VRTX | 92532F100 | US92532F1003 | 226.7571 | 22.67571 |
Visa Inc | V | 92826C839 | US92826C8394 | 159.6421 | 15.96421 |
Western Digital Corp | WDC | 958102105 | US9581021055 | 131.4255 | 13.14254 |
WPT Industrial Real Estate Investment Trust | WIR/U | 92937G109 | CA92937G1090 | 12.9340 | 1.29340 |
Xilinx Inc | XLNX | 983919101 | US9839191015 | 98.5827 | 9.85826 |
Zendesk Inc | ZEN | 98936J101 | US98936J1016 | 60.9638 | 6.09637 |
Zoetis Inc | ZTS | 98978V103 | US98978V1035 | 108.7420 | 10.87420 |
The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., National Bank Financial Inc., Raymond James Ltd., Manulife Securities Incorporated, Industrial Alliance Securities, Middlefield Capital Corporation, Desjardins Securities Inc. and Mackie Research Capital Corporation.
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 using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
SOURCE Global Innovation Dividend Fund
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