Brompton Split Banc Corp. Establishes At-the-Market Equity Program
30 Junio 2022 - 3:38PM
(TSX: SBC, SBC.PR.A) Brompton Split Banc Corp.
(the “Company”) is pleased to announce it has established an
at-the-market equity program (“ATM Program”) that allows the
Company to issue class A and preferred shares (the “Class A Shares”
and “Preferred Shares”, respectively) to the public from time to
time, at the Company’s discretion. Any Class A Shares or Preferred
Shares sold in the ATM Program will be sold through the Toronto
Stock Exchange (the “TSX”) or any other marketplace in Canada on
which the Class A Shares and Preferred Shares are listed, quoted or
otherwise traded at the prevailing market price at the time of
sale. Sales of Class A Shares and Preferred Shares through the ATM
Program will be made pursuant to the terms of an equity
distribution agreement dated June 29, 2022 (the “Equity
Distribution Agreement”) with RBC Capital Markets (the “Agent”).
Sales of Class A Shares and Preferred Shares
will be made by way of “at-the-market distributions” as defined in
National Instrument 44-102 Shelf Distributions on the TSX or on any
marketplace for the Class A Shares and Preferred Shares in Canada.
Since the Class A Shares and Preferred Shares will be distributed
at the prevailing market prices at the time of the sale, prices may
vary among purchasers during the period of distribution. The ATM
Program is being offered pursuant to a prospectus supplement dated
June 29, 2022 to the Company’s short form base shelf prospectus
dated March 26, 2021. The maximum gross proceeds from the issuance
of the shares will be $25,000,000 for each of the Class A and
Preferred Shares. Copies of the prospectus supplement and the short
form base shelf prospectus may be obtained from your registered
financial advisor or from representatives of the Agent and are
available on SEDAR at www.sedar.com.
The volume and timing of distributions under the
ATM Program, if any, will be determined at the Company’s sole
discretion. The ATM Program will be effective until April 26, 2023,
unless terminated prior to such date by the Company. The Company
intends to use the proceeds from the ATM Program in accordance with
the investment objectives and investment strategies of the Company,
subject to the investment restrictions of the Company.
The Company invests in a portfolio (the
“Portfolio”) consisting of common shares of the six largest
Canadian banks: Royal Bank of Canada, The Bank of Nova Scotia,
National Bank of Canada, The Toronto-Dominion Bank, Canadian
Imperial Bank of Commerce and Bank of Montreal. In addition, the
Company may hold up to 10% of the total assets of the Portfolio in
investments in global financial companies for the purpose of
enhanced diversification and return potential.
The investment objectives for the Class A Shares
are to provide holders with regular monthly cash distributions
targeted to be at least $0.10 per Class A Share and to provide the
opportunity for growth in the net asset value per Class A
Share.
The investment objectives for the Preferred
Shares are to provide holders with fixed cumulative preferential
quarterly cash distributions, currently in the amount of $0.125 per
Preferred Share, and to return the original issue price to holders
of Preferred Shares on November 29, 2027.
About Brompton Funds
Founded in 2000, Brompton is an experienced
investment fund manager with income focused investment solutions
including exchange-traded funds (ETFs) and other TSX traded
investment funds. For further information, please contact your
investment advisor, call Brompton’s investor relations line at
416-642-6000 (toll-free at 1-866-642-6001), email
info@bromptongroup.com or visit our website at
www.bromptongroup.com.
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Brompton Split Banc Corp. Compound Annual NAV
Returns to May 31, 2022 |
1-Yr |
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3-Yr |
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5-Yr |
|
10-Yr |
|
S.I. |
|
|
Class A Shares (TSX: SBC) |
8.0 |
% |
21.4 |
% |
15.1 |
% |
17.4 |
% |
12.2 |
% |
|
Preferred Shares (TSX: SBC.PR.A) |
5.1 |
% |
5.1 |
% |
5.0 |
% |
4.8 |
% |
5.0 |
% |
|
Brompton Split Banc Corp. – Unit |
7.0 |
% |
14.5 |
% |
10.9 |
% |
11.8 |
% |
9.1 |
% |
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Returns are for the periods ended May 31, 2022
and are unaudited. Inception date November 15, 2005. The table
shows the Company’s compound return on a Class A Share, Preferred
Share and Unit for each period indicated.
You will usually pay brokerage fees to your
dealer if you purchase or sell shares of the Company on the TSX or
other alternative Canadian trading system (an “exchange”). If the
shares are purchased or sold on an exchange, investors may pay more
than the current net asset value when buying shares of the Company
and may receive less than the current net asset value when selling
them.
There are ongoing fees and expenses associated
with owning shares of an investment fund. An investment fund must
prepare disclosure documents that contain key information about the
fund. You can find more detailed information about the Company in
its public filings available at www.sedar.com. The indicated rates
of return are the historical annual compounded total returns
including changes in share value and reinvestment of all
distributions and do not take into account certain fees such as
redemption costs or income taxes payable by any securityholder that
would have reduced returns. Investment funds are not guaranteed,
their values change frequently and past performance may not be
repeated.
Certain statements contained in this document
constitute forward-looking information within the meaning of
Canadian securities laws. Forward-looking information may relate to
matters disclosed in this document and to other matters identified
in public filings relating to the Company, to the future outlook of
the Company and anticipated events or results and may include
statements regarding the future financial performance of the
Company. In some cases, forward-looking information can be
identified by terms such as “may”, “will”, “should”, “expect”,
“plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”,
“potential”, “continue” or other similar expressions concerning
matters that are not historical facts. Actual results may vary from
such forward-looking information. Investors should not place undue
reliance on forward-looking statements. These forward-looking
statements are made as of the date hereof and we assume no
obligation to update or revise them to reflect new events or
circumstances.
The securities offered have not been registered
under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or any
applicable exemption from the registration requirements. This news
release does not constitute an offer to sell or the solicitation of
an offer to buy securities nor will there be any sale of such
securities in any state in which such offer, solicitation or sale
would be unlawful.
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