Brompton Lifeco Split Corp. Announces Preferred Share Distribution Rate on
TORONTO, ONTARIO -- (Marketwired) -- 02/05/14 -- As previously
announced, Brompton Lifeco Split Corp. ("LCS" or the "Fund")
(TSX:LCS)(TSX:LCS.PR.A) will hold a special meeting of shareholders
on February 18, 2014 to consider the proposed extension of the term
of the Class A Shares and Preferred Shares of the Fund. If approved,
shareholders will be able to continue their investment in the Fund
beyond its currently scheduled termination date of April 30, 2014.
The proposed extension will not result in any changes to shareholder
redemption rights and is subject to shareholder approval. In the
event that the proposed extension is not approved by shareholders,
the Fund will terminate and Class A and Preferred shareholders will
receive net asset value per Class A and Preferred Share,
If the extension is approved, the term of the Class A Shares and
Preferred Shares will be extended to April 29, 2019 and the
distribution rate for the Fund's Preferred Shares for the new term
commencing on May 1, 2014 will be $0.575 per share per annum payable
quarterly. This represents a 5.75% yield on the par value ($10.00) of
the Preferred Share and is based on current market rates for
preferred shares with similar terms. In addition, the Fund intends to
maintain the targeted monthly Class A Share distribution at $0.075
per Class A Share.
LCS invests in a portfolio, on an approximately equal weight basis,
of common shares of Canada's 4 largest publicly-listed life insurance
companies: Great-West Lifeco Inc., Industrial Alliance Insurance and
Financial Services Inc., Manulife Financial Corporation and Sun Life
About Brompton Funds
Brompton Funds, a division of Brompton Group, is an experienced
investment fund manager operating since 2002. Brompton is focused on
meeting the needs of investors by offering low cost, innovative
products with client friendly terms and supported by strong corporate
governance. For further information, please contact your investment
advisor, call Brompton's investor relations line at 416-642-6000,
toll-free at 1-866-642-6001, email email@example.com or visit
our website at www.bromptongroup.com.
Commissions, trailing commissions, management fees and expenses all
may be associated with investment funds. Please read the Fund's
publicly filed documents which are available from SEDAR at
www.sedar.com. Investment funds are not guaranteed, their values
change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian securities
laws. Forward-looking information may relate to matters disclosed in
this press release and to other matters identified in public filings
relating to the Fund, to the future outlook of the Fund and
anticipated events or results and may include statements regarding
the future financial performance of the Fund. In some cases,
forward-looking information can be identified by terms such as "may",
"will", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "predict", "potential", "continue" or other
similar expressions concerning matters that are not historical facts.
Actual results may vary from such forward-looking information.
Brompton's investor relations line
416-642-6000 or toll-free at 1-866-642-6001
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