Global Agribusiness Trust to list on TSX on Nov. 16
2007-11-14 20:34 MT - New Listing
TSX bulletin 2007-1613
An application has been granted for the original listing in the industrial category of up to 11.5 million redeemable, transferable trust units and up to 11.5 million trust unit purchase warrants of the fund, of which up to 10 million units and up to 10 million warrants will be issued and outstanding, and up to 1.5 million units and up to 1.5 million warrants will be reserved for issuance upon completion of an initial public offering.
Listing of the units and warrants will become effective at 5:01 p.m. on Thursday, Nov. 15, 2007, in anticipation of the offering closing on Friday, Nov. 16, 2007. The units and warrants will be posted for trading at the open on Friday, Nov. 16, 2007.
Each warrant entitles the holder to purchase one unit of the fund at a price of $10 on or before 5 p.m. (Toronto time) on Nov. 30, 2010. The warrants can be exercised by notifying Computershare Trust Co. of Canada between the first business day of any month and 5 p.m. (Toronto time) on the 10th business day of such month up until Nov., 2010. Such warrants will be exercised effective as at 5 p.m. (Toronto time) on the 10th business day of the applicable month. warrants are also exercisable on Nov. 30, 2010, prior to 5 p.m. (Toronto time). A fee of 15 cents per warrant will be payable by the fund at the time a warrant is exercised to the broker whose client is exercising the warrant and 10 cents per warrant will be payable by the fund to the agents. The warrants will be governed by the terms of a warrant indenture between the fund and Computershare Investor Services Inc. The warrant indenture provides for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other terms of the capital reorganization.
Registration of interests in and transfers of units and the warrants will be made only through the book-entry-only system of CDS Clearing and Depository Services Inc. Units and warrants must be purchased, transferred and surrendered for retraction only through a CDS participant. Beneficial owners of units and warrants will not have the right to receive physical certificates evidencing their ownership.
Additional information on the units and warrants can be found in the final prospectus of the fund dated Oct. 29, 2007, which is available at www.sedar.com. Capitalized terms not otherwise defined are as defined in the prospectus.
Unit symbol: AGB.UN
Unit Cusip No.: 37949D 10 7
Unit trading currency: Canadian dollars
Warrant symbol: AGB.WT
Warrant Cusip No.: 37949D 11 5
Warrant trading currency: Canadian dollars
Temporary Market Maker: Byron Securities Ltd.
Other markets: None
Incorporation: The fund is an investment trust established under the laws of the province of Ontario pursuant to a trust declaration by Navina Capital Corp. as trustee of the fund on Oct. 29, 2007.
Fiscal year-end: Dec. 31
Transfer agent and registrar: Computershare Investor Services Inc. at its principal office in Toronto
Nature of business: The fund has been created to provide investors with exposure to the returns of an actively managed, diversified portfolio comprising primarily publicly listed securities of issuers that are engaged in the demand and supply chains of the global agribusiness industry.
Distributions: The fund intends to make monthly distributions to unitholders of record on the last business day of each month. Distributions will be paid on a business day designated by the manager that will be no later than the 15th day of the following month. The fund will not have a fixed monthly distribution but will determine and announce each December, commencing in December, 2008, an expected distribution amount for the following calendar year. The initial cash distribution is anticipated to be payable on Jan. 15, 2008, to unitholders of record on Dec. 31, 2007.
Initial public offering: Pursuant to the terms of the prospectus, 10 million units are being offered to the public at a price of $10 per unit by CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corp., Dundee Securities Corp., HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Desjardins Securities Inc., GMP Securities LP, MGI Securities Inc., Rothenberg Capital Management Inc., Richardson Partners Financial Ltd., Wellington West Capital Inc., as agents. In addition, the underwriters have been granted an overallotment option exercisable in whole or in part for a period of 30 days following the closing of the offering, to purchase a total of up to 15 per cent of the total number of units, and 15 per cen tof the total number of warrants. The units will separate into units and warrants immediately upon closing of the offering.
