Middlefield Healthcare Dividend ETF
Middlefield Healthcare Dividend ETF (“Healthcare ETF”) (TSX:MHCD), established in 2014, has a track record of providing tax-efficient monthly distributions and steady capital appreciation through investing in a high conviction, diversified portfolio of companies operating in the global healthcare sector. In order to streamline our healthcare product offerings and seek larger scale and better liquidity for unitholders, we are pleased to announce that Sustainable Agriculture & Wellness
Middlefield Innovation Dividend ETF
In addition, the Manager is pleased to announce that Workplace Technology
The Healthcare Mergers and the Innovation Merger (together “the Mergers”) will be effected on a tax-deferred roll-over basis and accordingly, unitholders of the funds to be merged will not realize capital gains or losses as a result of the Mergers. The Manager believes the Mergers would be in the best interests of the unitholders of the funds to be merged. All costs and expenses directly associated with the Mergers will be borne by the Manager and not the funds being merged.
The Mergers will be effected at an exchange ratio calculated as the net asset value per unit of the funds being merged divided by the net asset value per unit of the Healthcare ETF and Innovation ETF, respectively, determined as at the close of trading on the TSX on the business day immediately prior to the Effective Date. Pursuant to the Mergers, the Healthcare ETF and Innovation ETF will assume the liabilities of the respective funds being merged and will issue units of Healthcare ETF and Innovation ETF in satisfaction of the purchase price for all of the property of the respective funds being merged.
The unitholders of Agriculture & Wellness and Workplace Technology who do not wish to participate in the Mergers can sell their units in the market or tender them to a special redemption of the applicable fund prior to the completion of the Mergers. The deadline to tender units under this election is
The Mergers remain subject to the satisfaction of all regulatory requirements and customary closing conditions.
About Middlefield
Founded in 1979, Middlefield is a specialist and independent equity income manager headquartered in
For further information, please visit our website at www.middlefield.com or contact
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 Mergers and completion thereof; the benefits of the Mergers; and the funds that are proposed to be merged. 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 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.
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