NEWS RELEASE TRANSMITTED BY Marketwired
FOR: Brompton Lifeco Split Corp.
TSX SYMBOL: LCS
TSX SYMBOL: LCS.PR.A
APRIL 14, 2014
Brompton Lifeco Split Corp. Announces Treasury Offering
TORONTO, ONTARIO--(Marketwired - April 14, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
Brompton Lifeco Split Corp. (the "Company") (TSX:LCS)(TSX:LCS.PR.A)
is pleased to announce it has filed a preliminary short form prospectus with
respect to a treasury offering of class A shares and preferred shares.
Brompton Lifeco Split Corp. invests in a portfolio, on an approximately equal
weight basis, of common shares of Canada's four largest publicly-listed
life insurance companies: Great-West Lifeco Inc., Industrial Alliance Insurance
and Financial Services Inc., Manulife Financial Corporation and Sun Life
The investment objectives for the class A shares are to provide holders with
regular monthly cash distributions targeted to be $0.075 per class A share and
to provide the opportunity for growth in net asset value per class A share.
The investment objectives for the preferred shares are to provide holders with
fixed cumulative preferential quarterly cash distributions currently in the
amount of $0.525 per annum until April 30, 2014, and to return the price to
holders of preferred shares on the maturity date of the Company. On February 5,
2014, the Company announced an extension of the maturity date to April 29,
2019. The distribution rate on the preferred shares for the term from May 1,
2014 to April 29, 2019 will be $0.575 per preferred share per annum ($0.14375
per quarter). This represents a yield on the $10.00 par value of the preferred
shares of 5.75% per annum.
The syndicate of agents for the offering is being led by RBC Capital Markets,
CIBC, and Scotiabank, and includes BMO Capital Markets, National Bank Financial
Inc., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc.,
Dundee Securities Ltd., Mackie Research Capital Corporation, and Manulife
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 firstname.lastname@example.org or
visit our website at www.bromptongroup.com.
This offering is only made by prospectus. A preliminary prospectus containing
important detailed information about the securities being offered has been
filed and is still subject to completion or amendment. Copies of the prospectus
may be obtained from any of the above-mentioned agents. Investors should read
the prospectus before making an investment decision. There will not be any sale
of the securities being offered until a receipt for the final prospectus has
Commissions, trailing commissions, management fees and expenses all may be
associated with investment funds. Please read the Company'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
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 news release and to other
matters identified in public filings relating to the Company, to the future
outlook of the Company and anticipated events or results and may include
statements regarding the future financial performance of the Company. 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.
The securities offered have not been registered under the U.S. Securities Act
of 1933, as amended, and may not be offered or sold in the United States absent
registration or any applicable exemption from the registration requirements.
This news release does not constitute an offer to sell or the solicitation of
an offer to buy securities nor will there be any sale of such securities in any
state in which such offer, solicitation or sale would be unlawful.
FOR FURTHER INFORMATION PLEASE CONTACT:
416-642-6000 or toll-free at 1-866-642-6001
INDUSTRY: Financial Services - Investment Services and Trading
-0- Apr/14/2014 18:41 GMT
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