CLP unitholders will receive Class A shares in the capital of Infrastructure Split (TSX:IS) in exchange for their units held immediately prior to the effective time of the Merger, based on an exchange ratio that is equal to the net asset value of CLP per Unit determined as at the close of business on
The initial target distribution yield for the Class A Shares will be 10.0% per annum based on the notional
Record Date | Payable Date | Distribution Per Class A Share |
Infrastructure Split has been designed to provide investors with a diversified, actively managed portfolio comprised primarily of dividend paying securities of issuers operating in the infrastructure sector. The investment strategy of Infrastructure Split will be to initially invest in a portfolio of approximately 15 dividend-paying issuers operating in the infrastructure sector that
The investment objectives for the Class A Shares are to provide holders (together with holders of the Preferred Shares, the “Shareholders”) with non-cumulative monthly cash distributions and to provide holders with the opportunity for capital appreciation through exposure to the Portfolio (as defined below).
Infrastructure Split has filed an amended and restated Preliminary Prospectus for the offering of Preferred Shares, which is expected to close on or about
The investment objectives for the Preferred Shares are to provide holders with fixed cumulative preferential quarterly cash distributions and to return
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Commissions, trailing commissions, management fees and expenses all may be associated with owning units of an investment fund or ETF investments. Please read the prospectus and publicly filed documents before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of an investment fund on the
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. Statements which may constitute forward-looking statements relate to: the proposed timing of the Merger and completion thereof; the benefits of the Merger; the change in investment objectives of CLP; the creation of Infrastructure Split and the issuance of its preferred and Class A shares; and the reduction in management fees. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of each fund. There are no assurances the Manager, the Advisor, CLP or Infrastructure Split can fulfill such forward-looking statements and undertake no 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 Manager, the Advisor, CLP or Infrastructure Split, many of which are beyond the control of the Manager, the Advisor, CLP or Infrastructure Split.
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