Not for distribution to U.S. newswire services or for dissemination in the United States.
TORONTO, Jan. 25, 2018 (GLOBE NEWSWIRE) -- (TSX: LCS) (TSX:LCS.PR.A) Brompton Lifeco Split Corp. (the “Company”) is pleased to announce it is undertaking an
overnight treasury offering of class A and preferred shares.
The class A shares will be offered at a price of $7.65 for a distribution rate of 11.8% on the issue price, and
the preferred shares will be offered at a price of $10.05 for a yield to maturity of 5.4%. The closing price on the Toronto
Stock Exchange (“TSX”) for each of the class A and preferred shares on January 24, 2018 was $7.83 and $10.32, respectively. The
class A and preferred share offering prices were determined so as to be non-dilutive to the most recently calculated net asset
value per unit of the Company prior to pricing, as adjusted for dividends and certain expenses to be accrued prior to or upon
settlement of the offering.
The sales period of this overnight offering will end at 9:00 a.m. (ET) on January 26,
2018. The offering is expected to close on or about February 6, 2017 and is subject to certain closing conditions
including approval by the TSX.
The Company invests in a portfolio of common shares of Canada’s four largest publicly-listed life insurance
companies on an approximately equal weight basis: Great-West Lifeco Inc., Industrial Alliance Insurance and Financial Services
Inc., Manulife Financial Corporation and Sun Life Financial Inc.
The investment objectives for the class A shares are to provide holders with regular monthly cash distributions
targeted to be $0.075 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 $0.14375 per preferred share, and to return the original issue price plus
accrued dividends (if any) to holders of preferred shares on April 29, 2019.
The syndicate of agents for the offering is being led by RBC Capital Markets, CIBC Capital Markets, National
Bank Financial Inc. and Scotiabank.
About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund
manager with approximately $2 billion in assets under management. Brompton’s investment solutions include TSX listed traded funds,
mutual funds and flow-through limited partnerships. 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.
A short form base shelf prospectus containing important detailed information about the securities
being offered has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada.
Copies of the short form base shelf prospectus may be obtained from a member of the syndicate. The Company intends to file a
supplement to the short form base shelf prospectus and investors should read the short form base shelf prospectus and the
prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the
securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in
each of the provinces and territories of Canada.
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 the public filings available at www.sedar.com. 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.
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.
