Exchange Bulletin
Sustainable Power & Infrastructure Split Corp. (PWI, PWI.PR.A) To Trade On 兔子先生
May 19, 2021
Issuer: Sustainable Power & Infrastructure Split Corp. (the "Company")
| Security | Symbol | Issued and Outstanding Securities | Reserved Securities | Issue Price |
|---|---|---|---|---|
| Class A Shares | PWI | up to 7,500,000 | up to 1,125,000 | $10.00 |
| Preferred Shares | PWI.PR.A | up to 7,500,000 | up to 1,125,000 | $10.00 |
| Listing category: | Non-Corporate |
| Trading currency: | CDN$ |
| Transaction: | Initial public offering of Class A Shares and Preferred Shares (the "Offering") |
| Listing date: | May 20, 2021 (as at 5:01 pm) in anticipation of closing of the Offering. |
| Anticipated closing date: | May 21, 2021 (prior to the opening) |
| Posted for trading date: | May 21, 2021 (at the opening) subject to confirmation of closing of the Offering. |
| Other market(s): | None |
| Temporary market maker: | Integral Wealth Securities Limited |
| Security ownership registration: | CDS book-based system |
| Investor relations: | Christopher Cullen Senior Vice President (416) 642-6000 Email: cullen@bromptongroup.com |
| Incorporation: | The Company is a mutual fund corporation established under the laws of the Province of Ontario on March 31, 2021. |
| Manager: | Brompton Funds Limited |
| Fiscal year end: | December 31 |
| Nature of business: | The Company will invest in a globally diversified and actively managed portfolio (the "Portfolio") consisting primarily of dividend-paying securities of power and infrastructure companies, whose assets, products and services the Manager believes are facilitating the multi-decade transition toward decarbonization and environmental sustainability. The Portfolio will include investments in companies operating in the areas of renewable power, green transportation, energy efficiency, and communications, among others. |
| Transfer agent and registrar: | TSX Trust Company at its principal offices in Toronto. |
| Distributions: | Class A Shares: The policy of the Board of Directors will be to pay monthly non-cumulative distributions to the holders of Class A Shares of record on the last Business Day of each month. The monthly cash distribution is targeted to be $0.06667 per Class A Share representing a yield on the Class A Share offering price of 8.0% per annum. Such distributions will be paid on or before the tenth Business Day of the month following the month in respect of which the distribution becomes payable. The first distribution will be made in respect of June 2021. Based on the expected Closing Date, the initial distribution will be $0.06667 per Class A Share and is expected to be payable to holders of Class A Shares of record on June 30, 2021. No distributions will be paid on the Class A Shares if (i) the distributions payable on the Preferred Shares are in arrears, or (ii) following cash distributions by the Company, the NAV per Unit would be less than $15.00. Preferred Shares: Holders of record of Preferred Shares on the last Business Day of each of March, June, September and December will be entitled to receive fixed cumulative preferential quarterly cash distributions equal to $0.1250 per Preferred Share until May 29, 2026. On an annualized basis, this would represent a yield on the Preferred Share offering price of approximately 5.0%. Such quarterly distributions are expected to be paid by the Company on or before the tenth Business Day of the month following the period in respect of which the distribution was payable. The first distribution will be pro-rated to reflect the period from the Closing Date to June 30, 2021. Based on the expected Closing Date , the initial distribution will be $0.05632 per Preferred Share and is expected to be payable to the holders of Preferred Shares of record on June 30, 2021. |
| Sponsorship: | Not applicable |
| Offering document: | Prospectus dated April 27, 2021 which is available at . Capitalized terms not otherwise defined herein are as defined in the Prospectus. |
| Initial public offering: | Pursuant to the terms of the Prospectus, up to 7,500,000 Class A Shares at a subscription price of $10.00 per Class A Share and up to 7,500,000 Preferred Shares at a subscription price of $10.00 per Preferred Share, are being offered to the public. In addition, the Company has granted the Agents an over-allotment option pursuant to which the Agents may purchase up to an additional 1,125,000 Class A Shares at a subscription price of $10.00 per Class A Share and up to 1,125,000 Preferred Shares at a subscription price of $10.00 per Preferred Share. |
| TSX contact: | Chris Birkett, Managing Director, 兔子先生. |