Exchange Bulletin
Canadian Large Cap Leaders Split Corp. (NPS, NPS.PR.A) To Trade On 兔子先生
February 20, 2024
Issuer: Canadian Large Cap Leaders Split Corp. (the "Company")
| Security | Symbol | Issued and Outstanding Securities | Reserved Securities | Issue Price |
|---|---|---|---|---|
| Class A Shares | NPS | Up to 3,000,000 | Up to 450,000 | $15.00 |
| Preferred Shares | NPS.PR.A | Up to 3,000,000 | Up to 450,000 | $10.00 |
| Listing category: | Non-Corporate |
| Trading currency: | CDN$ |
| Transaction: | Initial public offering of Class A Shares and Preferred Shares (the "Offering") |
| Listing date: | February 21, 2024 (as at 5:01 pm) in anticipation of closing of the Offering. |
| Anticipated closing date: | February 22, 2024 |
| Posted for trading date: | February 22, 2024 (at the opening) subject to confirmation of closing of the Offering. |
| Other market(s): | None |
| Temporary market maker: | Research Capital Corporation |
| Investor relations: | Kirstin McTaggart Corporate Secretary (416) 943-4065 kmctaggart@ninepoint.com |
| Incorporation: | A mutual fund established as a corporation under the laws of the Province of Ontario on December 19, 2023. |
| Manager: | Ninepoint Partners LP |
| Fiscal year end: | December 31 |
| Nature of business: | The Company will invest in an initially equally-weighted portfolio comprised primarily of Equity Securities of Canadian Dividend Growth Companies, selected by the Portfolio Manager from the Investable Universe, that at the time of investment and immediately following each periodic reconstitution and rebalancing: (i) are listed on a Canadian exchange; (ii) pay a dividend; (iii) generally have a market capitalization of at least $10 billion; (iv) have options in respect of its Equity Securities that, in the opinion of the Portfolio Manager, are sufficiently liquid to permit the Portfolio Manager to write options in respect of such securities; and (v) have a history of dividend growth or, in the Portfolio Manager's view have high potential for future dividend growth. |
| Transfer agent and registrar: | TSX Trust Company at its principal offices in Toronto. |
| Distributions: | Class A Shares: The Company will pay non-cumulative monthly distributions to the holders of Class A Shares. The monthly cash distribution is targeted to be $0.125 per Class A Share representing a yield on the issue price of $15.00 of the Class A Shares of 10.0% per annum. Such distributions will be paid on or before the 15th day of the month following the month in respect of which the distribution is declared payable. No distributions will be paid on the Class A Shares if (i) the distributions payable on the Preferred Shares are in arrears, or (ii) in respect of a cash distribution 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 $0.1875 per Preferred Share until February 28, 2029. On an annualized basis, this would represent a yield on the $10.00 Preferred Share issue price of 7.5%. Such quarterly distributions are expected to be paid by the Company before the 15th day of the month following the period in respect of which the distribution was declared payable. The first distribution will be pro-rated to reflect the period from the closing date to March 31, 2024. |
| Sponsorship: | Not applicable |
| Disclosure document: | Prospectus dated January 29, 2024, which is available at . Capitalized terms not otherwise defined herein are as defined in the Disclosure document. |
| Initial public offering: | Pursuant to the terms of the Prospectus, up to 3,000,000 Class A Shares at a subscription price of $15.00 per Class A Share and up to 3,000,000 Preferred Shares at a subscription price of $10.00 per Preferred Share, are being offered to the public. |
| TSX contact: | Selma Thaver, Managing Director, TSX Listings |