Global Champions Split Corp. To Trade On The Toronto Stock Exchange
Global Champions Split Corp. (the “Company”) - An application has been granted for the original listing in the Industrial category of up to a maximum of 2,300,000 Class A Preferred Shares, Series 1 (the “Series 1 Shares”), of which up to 2,000,000 Series 1 Shares will be issued and outstanding, and up to 300,000 Series 1 Shares will be reserved for issuance upon completion of an initial public offering (the “Offering”).
Listing of the Series 1 Shares will become effective at 5:01 p.m. on Wednesday, March 6, 2013, in anticipation of the public offering closing on Thursday, March 7, 2013. The Series 1 Shares, other than those which have not been distributed to the public, will be posted for trading at the opening on March 7, 2013.
Registrations of interests in and transfers of the Series 1 Shares will be made only through the book-entry system administered by CDS Clearing and Depository Services Inc. (“CDS”). Series 1 Shares must be purchased, transferred and surrendered for redemption only through a CDS Participant. Upon purchase of any Series 1 Shares, the owner will receive only the customary confirmation.
Additional information on the Series 1 Shares may be found in the final prospectus dated February 28, 2013 (the “Prospectus”), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.
Stock Symbol: “GCS.PR.A”CUSIP: 37953A 10 6Trading Currency: CDN$
Market Maker:W.D. Latimer Co. Limited
181 Bay Street, Suite 300
Telephone Number:(416) 363-9491
Fax Number:(416) 365-9642
Investor Relations:Allen Taylor
Chief Financial Officer:Allen Taylor
Corporate Secretary:Loretta M. Corso
Incorporation:The Company is a mutual fund corporation incorporated under the Business Corporations Act (Ontario) by Articles of Incorporation dated November 27, 2012.
Manager of the Company:Brookfield Investment Management (Canada) Inc.
Fiscal Year End:December 31
Nature of Business:The Company was created to invest in a diversified portfolio of large capitalization companies that the Manager believes are best in class within their respective industries. Under normal market conditions, the Portfolio will be comprised primarily of equity securities. The Series 1 Shares have been provisionally rated Pfd-2 (low) by DBRS Limited. Initially, the Portfolio will consist of 15 large capitalization companies and will be approximately equally weighted on a U.S. dollar equivalent basis. The intention of the Company is to hold these investments to the Final Series 1 Redemption Date and not actively trade the Portfolio.
Transfer Agent &
Registrar:CIBC Mellon Trust Company at its principal office in Toronto.
Dividends:Holders of Series 1 Shares will be entitled to receive quarterly fixed cumulative preferential distributions equal to $0.25 per Series 1 Share to yield 4.00% per annum on the original issue price of the Series 1 Shares. Such quarterly distributions are expected to be paid by the Company to holders of record on the last Business Day of March, June, September and December in each year with payments being made on or before the 15th day of the following month. The initial distribution will be prorated from the Closing Date until March 31, 2013 and is expected to be payable on or about April 15, 2013 to holders of record on March 29, 2013.
Retraction:The Series 1 Shares may be surrendered for retraction at any time. A holder retracting Series 1 Shares will not receive cash but will instead receive debentures (the “Debentures”) issued by, at the Company's option in respect of each retraction, either the Company or, if agreed to by BAM Investments, BAM Investments. A holder retracting Series 1 Shares will receive, per Series 1 Share retracted, a number of Debentures determined by dividing the holder's Series 1 Share Retraction Price by $25.00. Fractional Debentures will not be issued to a holder and the holder will instead receive a cash payment equal to such fraction multiplied by the value of the Debenture that would otherwise have been issued. For the purpose of determining the amount of any such cash payment, all Series 1 Shares deposited by a holder for retraction will be aggregated.
Public Offering:Pursuant to the terms of the Prospectus, up to a maximum of 2,000,000 Series 1 Shares are being offered to the public by National Bank Financial Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Macquarie Private Wealth Inc. and Brookfield Financial Corp., as agents, at a price of $25 per Series 1 Share.