Crius Energy Trust To Trade On Toronto Stock Exchange
Crius Energy Trust (the “Trust ”) – An application has been granted for the original listing in the Industrial category of 12,500,000 trust units (the “Units”) of which 10,000,000 Units will be issued and outstanding and 2,500,000 Units will be reserved for issuance upon completion of an initial public offering (the “Offering”).
Listing of the Units will become effective at 5:01 p.m. on Monday, November 12, 2012 in anticipation of the Offering closing on Tuesday, November 13, 2012. The Units, other than those which have not been distributed to the public, will be posted for trading at the opening on Tuesday, November 13, 2012.
Stock Symbol: KWH.UN
CUSIP: 22676R 11 5
Trading Currency: CDN$
Market Maker: RBC Capital Markets
The Units may be represented in the form of one or more fully registered unit certificates held by, or on behalf of, CDS Clearing and Depository Services Inc. (“CDS”), as custodian of such certificates for the participants of CDS, registered in the name of CDS or its nominee, and registration of ownership and transfers of Units may be effected through the book-based system administered by CDS.
Additional information on the Units may be found in the final prospectus dated November 2, 2012 (the “Prospectus”), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.
Address:One First Canadian Place
P.O. Box 130
Toronto, Ontario M5X 1A4
Telephone Number:(203) 663-5089
Fax Number:(203) 663-8397
Investor Relations:Jan Fox
Chief Financial Officer
and Director:Roop Bhullar
General Counsel and
Incorporation:The Trust is an unincorporated open-ended limited purpose trust established under the laws of the Province of Ontario pursuant to a trust indenture dated September 7, 2012.
Fiscal Year End:December 31
Administrator of the
Trust:Crius Energy Administrator Inc.
Nature of Business:The Trust has been established to provide investors with a distribution-producing investment through the acquisition of an ownership interest in Crius Energy, LLC (the “Company”) by the Trust's indirect wholly-owned subsidiary, Crius Energy Corporation. The Company, through its subsidiaries, is an independent energy retailer which markets and sells electricity and natural gas to residential and small to medium-size commercial customers in the United States.
Transfer Agent &
Registrar for the Units:Computershare Trust Company of Canada at its principal offices in Toronto and Calgary.
Distributions:The Trust intends to make monthly distributions to Unitholders of record as of the close of business on the last business day of each month, which are expected to be paid to Unitholders on or about the 15th day of the following month or, if not a business day, the next business day thereafter. The initial monthly cash distribution rate will be C$0.0833 per Unit. The initial cash distribution, which will be for the period from and including the date of closing of the Offering to December 31, 2012, is expected to be paid on January 15, 2013 to Unitholders of record on December 31, 2012 and is estimated to be C$0.1326 per Unit (assuming that the closing of the Offering occurs on November 13, 2012).
Public Offering:Pursuant to the terms of the Prospectus, Scotia Capital Inc., RBC Dominion Securities Inc. and UBS Securities Canada Inc. (collectively, the “Lead Underwriters”) and National Bank Financial Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Desjardins Securities Inc., GMP Securities L.P. and Chardan Capital Markets, LLC. (collectively, with the Lead Underwriters, the “Underwriters”), are offering to the public 10,000,000 Units at a price of $10.00 per Unit. In addition, the Trust has granted the Underwriters' an over-allotment option exercisable in whole or in part for a period of 30 days following the closing of the Offering to purchase up to an additional 1,500,000 Units at the offering price.