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Global Real Estate & E-Commerce Dividend Fund Announces Exchange Ratios

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Global Real Estate & E-Commerce Dividend Fund Announces Exchange Ratios

Canada NewsWire

CALGARY, Oct. 11, 2018 /CNW/ - Middlefield Group, on behalf of Global Real Estate & E-Commerce Dividend Fund (the "Fund"), is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the final prospectus of the Fund dated September 19, 2018.

The Fund's investment objectives are to provide holders of units of the Fund ("Units") with:

(i)

stable monthly cash distributions, and

(ii)

enhanced long-term total return through capital appreciation of the Fund's investment portfolio;

through a diversified, actively managed portfolio comprised of dividend-paying securities of global real estate issuers that the advisor believes are well-positioned to benefit from the rapid adoption of e-commerce products and services, as well as securities of issuers operating in or deriving a significant portion of their revenue or earnings from products or services related to the e-commerce industry.

The initial target distribution yield for the Fund is 5.0% per annum based on the original subscription price (or $0.04167 per Unit per month or $0.50 per Unit per annum).

The number of Units issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ending on October 11, 2018 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $10.00. The Exchange Ratio for any such securities that do not trade in Canadian dollars was determined by converting the weighted average trading price on the applicable exchange of such securities into Canadian dollars based on today's Bank of Canada daily exchange rate. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of Units and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio will be rounded down to five decimal places.

The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Fund pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratio.

Name

Ticker

CUSIP

ISIN

VWAP

Exchange
Ratio

Real Estate Issuers






Agellan Commercial Real Estate Investment Trust

ACR-U

00844Y105

CA00844Y1051

12.8465

1.28465

Allied Properties Real Estate Investment Trust    

AP-U

019456102

CA0194561027

42.0843

4.20843

American Hotel Income Properties REIT LP          

HOT-U

026695106

CA0266951064

8.6695

0.86695

American Tower Corp            

AMT

03027X100

US03027X1000

189.8994

18.98993

Artis Real Estate Investment Trust       

AX-U

04315L105

CA04315L1058

11.4078

1.14078

BMO Equal Weight REITs Index ETF     

ZRE

05560G105

CA05560G1054

21.2096

2.12096

Boardwalk Real Estate Investment Trust             

BEI-U

096631106

CA0966311064

48.6626

4.86626

Canadian Apartment Properties REIT   

CAR-U

134921105

CA1349211054

46.1032

4.61032

Chartwell Retirement Residences        

CSH-U

16141A103

CA16141A1030

14.2538

1.42538

Cominar Real Estate Investment Trust 

CUF-U

199910100

CA1999101001

11.3566

1.13566

Crombie Real Estate Investment Trust 

CRR-U

227107109

CA2271071094

12.7853

1.27853

Crown Castle International Corp           

CCI

22822V101

US22822V1017

142.5979

14.25979

Dream Global Real Estate Investment Trust        

DRG-U

26154A106

CA26154A1066

13.6776

1.36776

Dream Industrial Real Estate Investment Trust   

DIR-U

26153W109

CA26153W1095

9.5392

0.95392

Dream Office Real Estate Investment Trust         

D-U

26153P104

CA26153P1045

23.6168

2.36168

Duke Realty Corp   

DRE

264411505

US2644115055

36.5166

3.65165

Equinix Inc              

EQIX

29444U700

US29444U7000

540.1418

54.01417

Extendicare Inc      

EXE

30224T863

CA30224T8639

7.3586

0.73586

First Capital Realty Inc          

FCR

31943B100

CA31943B1004

19.1533

1.91533

Granite Real Estate Investment Trust  

GRT-U

387437114

CA3874371147

53.6465

5.36465

H&R Real Estate Investment Trust       

HR-U

403925407

CA4039254079

19.3669

1.92519

InterRent Real Estate Investment Trust

IIP-U

46071W205

CA46071W2058

11.5187

1.15187

Invesco S&P/TSX REIT Income Index ETF              

REIT

46142E101

CA46142E1016

21.2152

2.12152

iShares Global Real Estate Index ETF   

CGR

46433A206

CA46433A2065

27.1855

2.71855

iShares S&P/TSX Capped REIT Index ETF              

XRE

46431D103

CA46431D1033

17.0473

1.70473

Killam Apartment Real Estate Investment Trust  

KMP-U

49410M102

CA49410M1023

15.8344

1.58344

Northview Apartment Real Estate Investment Trust

NVU-U

667185102

CA6671851021

25.0980

2.50980

NorthWest Healthcare Properties REIT

NWH-U

667495105

CA6674951059

10.8358

1.08358

Prologis Inc            

PLD

74340W103

US74340W1036

85.3155

8.53154

Purpose Duration Hedged Real Estate Fund         

PHR

74640L104

CA74640L1040

18.7148

1.87148

RBC Quant Global Real Estate Leaders ETF         

RGRE

74934J104

CA74934J1049

18.3975

1.83975

RioCan Real Estate Investment Trust   

REI-U

766910103

CA7669101031

24.0098

2.40098

SmartCentres Real Estate Investment Trust        

SRU-U

83179X108

CA83179X1087

30.0293

3.00293

STAG Industrial Inc

STAG

85254J102

US85254J1025

34.4434

3.44433

Summit Industrial Income REIT            

SMU-U

866120116

CA8661201167

8.8058

0.88058

Terreno Realty Corp               

TRNO

88146M101

US88146M1018

47.8154

4.78154

Vanguard FTSE Canadian Capped REIT Index ETF

VRE

92203B107

CA92203B1076

31.3418

3.13418

VEREIT Inc              

VER

92339V100

US92339V1008

9.2220

0.92220

WPT Industrial Real Estate Investment Trust       

WIR/U

92937G109

CA92937G1090

12.8668

1.28668

E-Commerce & Related Issuers






Alibaba Group Holding Ltd    

BABA

01609W102

US01609W1027

188.5558

18.85558

Alphabet Inc           

GOOG

02079K107

US02079K1079

1457.4461

145.74460

Amazon.com Inc    

AMZN

023135106

US0231351067

2358.4589

235.84589

AT&T Inc

T

00206R102

US00206R1023

43.3383

4.33383

BCE Inc   

BCE

05534B760

CA05534B7604

51.5340

5.15340

Capgemini SE         

CGEMY

13961R100

US13961R1005

31.7544

3.17544

CenturyLink Inc       

CTL

156700106

US1567001060

27.5682

2.75681

CGI Group Inc         

GIB/A

39945C109

CA39945C1095

79.1200

7.91200

Cisco Systems Inc  

CSCO

17275R102

US17275R1023

60.6981

6.06981

Descartes Systems Group Inc/The        

DSG

249906108

CA2499061083

40.0266

4.00266

Deutsche Post AG  

DPSGY

25157Y202

US25157Y2028

43.3266

4.33265

FedEx Corp             

FDX

31428X106

US31428X1063

296.9432

29.69431

International Business Machines Corp  

IBM

459200101

US4592001014

189.0056

18.90056

Macy's Inc              

M

55616P104

US55616P1049

42.8941

4.28941

Marks & Spencer Group PLC  

MAKSY

570912105

US5709121058

9.8705

0.98705

Microsoft Corp       

MSFT

594918104

US5949181045

142.3491

14.23491

PayPal Holdings Inc

PYPL

70450Y103

US70450Y1038

102.9079

10.29078

QUALCOMM Inc     

QCOM

747525103

US7475251036

89.0005

8.90005

salesforce.com Inc 

CRM

79466L302

US79466L3024

189.0973

18.90972

SAP SE    

SAP

803054204

US8030542042

150.7378

15.07377

Shopify Inc             

SHOP

82509L107

CA82509L1076

179.6786

17.96786

Taiwan Semiconductor Manufacturing Co Ltd      

TSM

874039100

US8740391003

52.5291

5.25290

TELUS Corp            

T

87971M103

CA87971M1032

45.2340

4.52340

Tencent Holdings Ltd             

TCEHY

88032Q109

US88032Q1094

47.3394

4.73394

United Parcel Service Inc       

UPS

911312106

US9113121068

152.5390

15.25389

Visa Inc  

V

92826C839

US92826C8394

181.8925

18.18924

Walmart Inc           

WMT

931142103

US9311421039

124.4808

12.44808

Wayfair Inc

W

94419L101

US94419L1017

160.7570

16.07569

Western Union Co/The          

WU

959802109

US9598021098

23.5129

2.35128

WPP PLC 

WPP

92937A102

US92937A1025

93.1101

9.31100

XPO Logistics Inc    

XPO

983793100

US9837931008

137.4813

13.74812

Other Issuers






AltaGas Ltd            

ALA

021361100

CA0213611001

21.0883

2.10883

ARC Resources Ltd 

ARX

00208D408

CA00208D4084

14.2354

1.42354

Bank of Montreal   

BMO

063671101

CA0636711016

105.0739

10.50739

Bank of Nova Scotia/The       

BNS

064149107

CA0641491075

74.0638

7.40638

Barrick Gold Corp   

ABX

067901108

CA0679011084

15.3667

1.53667

Bonavista Energy Corp           

BNP

09784Y108

CA09784Y1088

1.4109

0.14109

Canadian Imperial Bank of Commerce 

CM

136069101

CA1360691010

118.7650

11.87650

CI Financial Corp    

CIX

125491100

CA1254911003

19.6063

1.96063

Crescent Point Energy Corp   

CPG

22576C101

CA22576C1014

7.9277

0.79277

Emera Inc               

EMA

290876101

CA2908761018

38.9683

3.89683

Enbridge Inc           

ENB

29250N105

CA29250N1050

43.0661

4.30661

Encana Corp           

ECA

292505104

CA2925051047

15.8940

1.58940

Enerplus Corp         

ERF

292766102

CA2927661025

15.6091

1.56091

Freehold Royalties Ltd           

FRU

356500108

CA3565001086

10.8420

1.08420

General Electric Co

GE

369604103

US3696041033

17.3811

1.73810

Great-West Lifeco Inc           

GWO

39138C106

CA39138C1068

31.1291

3.11291

Hudbay Minerals Inc              

HBM

443628102

CA4436281022

6.0875

0.60875

Hydro One Ltd        

H

448811208

CA4488112083

19.3848

1.93848

Inter Pipeline Ltd   

IPL

45833V109

CA45833V1094

22.0828

2.19428

Laurentian Bank of Canada   

LB

51925D106

CA51925D1069

41.6493

4.16493

Manulife Financial Corp        

MFC

56501R106

CA56501R1064

21.8677

2.18677

National Bank of Canada       

NA

633067103

CA6330671034

62.8158

6.28158

Power Financial Corp             

PWF

73927C100

CA73927C1005

29.3295

2.93295

Royal Bank of Canada            

RY

780087102

CA7800871021

101.2387

10.12387

SNC-Lavalin Group Inc           

SNC

78460T105

CA78460T1057

45.9019

4.59019

Sun Life Financial Inc             

SLF

866796105

CA8667961053

50.2819

5.02819

Suncor Energy Inc  

SU

867224107

CA8672241079

49.6890

4.96890

Toronto-Dominion Bank/The 

TD

891160509

CA8911605092

76.1382

7.61382

TransAlta Corp       

TA

89346D107

CA89346D1078

7.0739

0.70739

 

The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Industrial Alliance Securities, Manulife Securities Incorporated, Desjardins Securities Inc., Mackie Research Capital Corporation and Middlefield Capital Corporation.

This offering is only made by prospectus.  The prospectus contains important detailed information about the securities being offered.  Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor.  Investors should read the prospectus before making an investment decision.

SOURCE Global Real Estate & E-Commerce Dividend Fund

View original content: http://www.newswire.ca/en/releases/archive/October2018/11/c7855.html

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