Middlefield Group is pleased to announce the successful completion of the previously announced merger of INDEXPLUS Income Fund, Middlefield Equal Sector Income Fund and HTR Total Return Fund with INDEXPLUS being the continuing fund.
As of the Effective Date, the combined total assets of the continuing fund are approximately $265 million.
The merger was effected on a tax-deferred "rollover" basis at an exchange ratio calculated as the net asset value per unit of each Fund divided by the NAV per unit of the continuing fund, each determined as at the close of trading on the Toronto Stock Exchange (the "TSX") on May 23, 2008. The table below provides the respective exchange ratios and NAVs for each of the Funds. The exchange ratios are based on the relative NAVs, on an unrounded basis.
Unitholders of the terminating funds are not required to take any action in order to be recognized as a unitholder of INDEXPLUS and to be in a position to trade units of INDEXPLUS on the TSX. Former unitholders of the two terminating funds who wish to participate in the distribution reinvestment plan of INDEXPLUS will need to enroll in the INDEXPLUS DRIP.
Unitholders of INDEXPLUS are not required to take any action as they will automatically continue as unitholders of the continuing fund with each unit of INDEXPLUS equal to one unit of the continuing fund.
The units of INDEXPLUS trade on the Toronto Stock Exchange under the symbol IDX.UN. -- www.cnxmarketlink.com
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