Brompton Energy Split Corp. Announces Extension of Term
28 November 2024 - 11:11PM
Brompton Energy Split Corp. (the “Fund”) is pleased to announce
that the board of directors of the Fund has approved an extension
of the maturity date of the class A shares (the “Class A Shares”)
and preferred shares (the “Preferred Shares”) of the Fund. The
current maturity date of March 28, 2025 will be extended for an
additional period of approximately 2 years to March 30, 2027. The
Preferred Share dividend rate for extended term will be announced
at least 60 days prior to the current March 28, 2025 maturity date
and will be based on market yields for preferred shares with
similar terms at that time. The extension of the term of the Fund
is not a taxable event and enables shareholders to defer potential
capital gains tax liability that would have otherwise been realized
on the redemption of Class A Shares or Preferred Shares at the end
of the term, until such time that shares are disposed of by
shareholders.
The Fund invests in an actively managed
portfolio consisting primarily of equity securities of
dividend-paying (at the time of investment) global energy issuers
with a market capitalization of at least $2 billion (at the time of
investment) which may include companies operating in energy
subsectors and related industries such as oil and gas exploration
and production, equipment, services, pipelines, transportation,
infrastructure, utilities, among others. The Fund may also invest
up to 25% of the value of the portfolio (as measured at the time of
investment) in equity securities of other global natural resource
issuers which include companies that own, explore, mine, process or
develop natural resource commodities or supply goods and services
to those companies, including directly or indirectly through
exchange-traded funds.
About Brompton Funds
Founded in 2000, Brompton is an experienced
investment fund manager with income and growth 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.
You will usually pay brokerage fees to your
dealer if you purchase or sell shares of the investment funds on
the Toronto Stock Exchange 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 investment fund 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 Fund in the
public filings available at www.sedarplus.ca. 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 Fund, to the future outlook of
the Fund and anticipated events or results and may include
statements regarding the future financial performance of the Fund.
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.
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