CALGARY, Jan. 16, 2017 /CNW/ - Middlefield Group, on
behalf of ACTIVEnergy Income Fund ("ACTIVE") (TSX: AEU.UN),
COMPASS Income Fund ("COMPASS") (TSX: CMZ.UN), YIELDPLUS
Income Fund ("YIELDPLUS") (TSX: YP.UN), MINT Income
Fund ("MINT") (TSX: MID.UN) and INDEXPLUS Income Fund
("INDEXPLUS") (TSX: IDX.UN) (collectively the "Funds")
announced today an update on the proposed mergers and
conversions.
Subject to approval from the Toronto Stock Exchange (the "TSX"),
each of COMPASS and YIELDPLUS (the "Merging Funds") will merge into
MINT (the "Mergers") on or about March 22,
2017 (the "Effective Date"). The Funds will not be
responsible for costs and expenses associated with the Mergers as
such costs and expenses will be borne by the Manager. The Mergers
are expected to be effected on a tax-deferred "rollover"
basis at an exchange ratio calculated as the net asset value
per unit of each of the Merging Funds divided by the net asset
value per unit of MINT.
MINT – Celebrating 20 Years of Outperforming the
S&P/TSX Composite
|
Since
Inception
|
MINT Income
Fund (MID.UN)
|
9.3%
|
S&P/TSX Composite
Index
|
7.1%
|
Source:
Bloomberg, Middlefield. As at December 31, 2016. Figures reflect
annualized total returns, net of fees.
|
Unitholders of the Merging Funds who do not wish to participate
in the applicable Merger and become unitholders of MINT will have
the opportunity to redeem their units before the applicable Merger
occurs. In order to provide unitholders with this option, the
annual redemption date for the Merging Funds will be moved forward
to February 28, 2017. The
deadline for unitholders of the Merging Funds to tender their units
for redemption is February 21,
2017. Surrendered units will be redeemed at a price equal to
the net asset value per unit.
About the Conversions
Special meetings of ACTIVE and INDEXPLUS (the "Converting
Funds") unitholders will be held on March 7,
2017 (the "Meetings"). At the Meetings, unitholders will
consider the conversion of each fund into a mutual fund on a
tax-deferred basis that offers daily liquidity through
purchases and redemptions at net asset value. Additional details
regarding the Meetings will be set forth in the information
circular to be prepared in connection with the Meetings.
Certain statements in this press release may be viewed as
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, intentions, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as "expects", "is expected", "anticipates", "plans",
"estimates" or "intends" (or negative or grammatical variations
thereof), or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved)
are not statements of historical fact and may be forward-looking
statements. There are no assurances the funds can fulfill such
forward-looking statements and the funds do not undertake any
obligation to update such statements. Such forward-looking
statements are only predictions; actual events or results may
differ materially as a result of risks facing one or more of the
funds, many of which are beyond the control of the funds.
SOURCE MINT Income Fund