Canadian Premium Select Income Fund Announces Exchange Ratios
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 10/20/11 -- Harvest Portfolios Group Inc. (the "Manager"), the manager of Canadian Premium Select Income Fund (the "Fund") is pleased to announce the exchange ratios for the Exchange Option as provided for in the preliminary prospectus of the Fund dated September 30, 2011 (the "Prospectus").
Prospective purchasers may purchase Units either by (i) cash payment or (ii) an exchange of each class or series of securities listed in this News Release (the "Exchange Eligible Securities"). The number of Units issuable in exchange for an Exchange Eligible Security (the "Exchange Ratio") deposited by a prospective purchaser pursuant to the Exchange Option was determined by dividing the volume weighted average trading price of such securities on the Toronto Stock Exchange during the three consecutive trading days ending on, and including October 20, 2011 (the "Pricing Period"), as adjusted to reflect distributions and/or dividends declared by the applicable Exchange Issuer that will not be received by the Fund, by $12.00. The Exchange Ratios were rounded down to four decimal places. Fractional Units will not be issued by the Fund. Allocation of cash in respect of fractional Units to purchasers who have authorized the deposit of Exchange Option Elections through CDS will be at the discretion of the CDS Participant.
A prospective purchaser of Units was required to deposit its Exchange Eligible Securities with the Exchange Agent through CDS prior to 5:00 p.m. (Toronto time) on October 20, 2011.
The table below sets out the names of those Exchange Eligible Securities that were deposited prior to the October 20, 2011 deadline, the securities of which may be accepted by the Fund pursuant to the Exchange Option including the applicable Exchange Eligible Security's TSX ticker symbol, CUSIP number, volume weighted average trading price during the Pricing Period and the applicable Exchange Ratio.
The Manager reserves the right to accept or reject any security under the Exchange Option for any reason, including, without limitation, an unfavourable relationship between the Exchange Ratio and the prevailing trading price or rating of an Exchange Eligible Security prior to the Closing. If, for any reason, at the discretion of the Manager, the Exchange Eligible Securities deposited pursuant to the Exchange Option are not acquired by the Fund, the holders of such securities will be notified of such fact as soon as practicable following the Closing or the termination of the Offering, as the case may be, and such securities will be re-credited to their accounts through CDS and the CDS Participants. The Manager's interpretation of the terms and conditions of the Exchange Option will be final and binding. The Manager also reserves the right to waive any conditions of the Exchange Option, other than the Maximum Ownership Level, and to accept or reject, in whole or in part, any deposit of securities made pursuant to the Exchange Option.
The syndicate of agents is being led by CIBC and BMO Capital Markets, and includes RBC Capital Markets, Canaccord Genuity Corp., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc., Raymond James Ltd., HSBC Securities (Canada) Inc., Macquarie Private Wealth Inc., Dundee Securities Ltd. and Industrial Alliance Securities Inc. (collectively, the "Agents").
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund, the Manager and/or the Investment Manager. The forward-looking statements are not historical facts but reflect the Fund's, the Manager's and/or Investment Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, the Manager and/or the Investment Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, the Manager and/or the Investment Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
A preliminary prospectus dated September 30, 2011 containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The Prospectus is still subject to completion or amendment. Copies of the Prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
All capitalized terms noted herein but not defined are as defined in the Prospectus.
For additional information or a copy of the Prospectus, please contact your registered financial advisor.
Contacts:
Harvest Portfolios Group Inc.
Michael Kovacs
1-866-998-8298
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Datum: 20.10.2011 - 20:31 Uhr
Sprache: Deutsch
News-ID 1048438
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