Trez Captial Senior Mortgage Investment Corporation To Trade On Toronto Stock Exchange
Trez Captial Senior Mortgage Investment Corporation - An application has been granted for the original listing in the Industrial category of a minimum of 8,050,000 and a maximum of 11,500,000 Class A Shares of Trez Capital Senior Mortgage Investment Corporation (the “Company”), of which a minimum of 7,000,000 and a maximum of 10,000,000 Class A Shares will be issued and outstanding and a minimum of 1,050,000 and a maximum of 1,500,000 Class A Shares will be reserved for issuance upon completion of an initial public offering (the “Offering”).
Listing of the Class A Shares will become effective at 5:01 p.m. on Tuesday, December 11, 2012, in anticipation of the Offering closing on Wednesday, December 12, 2012. The Class A Shares will be listed and posted for trading at the opening on Wednesday, December 12, 2012.
Additional information on the Class A Shares may be found in the prospectus dated November 27, 2012 (the “Prospectus”), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.
Stock Symbol: “TZS”
CUSIP: 89532C 10 3
Trading Currency: CDN
Market Maker:RBC Capital Markets
Telephone Number: (416) 350-1299
Fax Number: (416) 350-1268
Chief Financial Officer
& Corporate Secretary:Alexander (Sandy) Manson
Chief Executive Officer:Michael J.R. Nisker
Investor Relations:Michael J.R. Nisker
Manager: Trez Capital Company Management Limited Partnership
Incorporation:The Company is a federal corporation, newly-incorporated under the Canadian Business Corporations Act pursuant to articles of incorporation dated October 18, 2012.
Fiscal Year End: December 31
Nature of Business:The Company will acquire and maintain a diversified portfolio of first ranking Mortgages that preserves capital and generates returns, in order to permit the Company to pay monthly distributions to its shareholders.
Transfer Agent &
Registrar:Computershare Trust Company of Canada, at its principal office in Toronto.
Distributions:The Company intends to make monthly cash distributions to Class A Shareholders of record on the last business day of each month and pay such cash distributions on or before the 15th day of the following month. Notwithstanding the above, the Company has the right to determine a record date that is other than the last business day of each month. Beginning in March 2014, the Company will annually determine and announce the Indicative Distribution Amount for the following 12 months based upon the prevailing market conditions. The initial Indicative Distribution Amount is $0.50 per Class A Share per annum (approximately $0.0417 per Class A Share per month) representing an annual cash distribution of 5.0% based on the $10.00 per Class A Share issue price. The initial cash distribution is anticipated to be payable on or before March 15, 2013 to Class A Shareholders of record on February 28, 2013.
Public Offering:Pursuant to the terms of the Prospectus, RBC Dominion Securities Inc., CIBC World Markets Inc., Canaccord Genuity Corp., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Macquarie Private Wealth Inc., Raymond James Ltd., GMP Securities L.P. and Manulife Securities Incorporated, as agents, are offering to the public between 7,000,000 and 10,000,000 Class A Shares, at a price of $10.00 each Class A Shares.