October 30, 2014 – First Asset Hamilton Capital European Bank Fund (the "Fund") announces that it has filed a final prospectus dated October 29, 2014 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering of up to 10 million trust units (the "Units") at a price of $10 per Unit, for a maximum offering size of $100 million. The offering is scheduled to close on November 21, 2014. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Units under the symbol EB.UN, subject to the fulfillment of TSX requirements.
The Fund's investment objective is to seek long-term total returns consisting of long-term capital appreciation and regular dividend income from an actively managed portfolio comprised primarily of equity securities of European banks (the "Portfolio").
The Portfolio will be managed by Hamilton Capital Partners Inc. First Asset Investment Management Inc. ("First Asset" or the "Manager") will act as the promoter, manager and trustee of the Fund and will provide all administrative and management services required by the Fund.
The Fund will, subject to receipt of unitholder approval and all approvals required under applicable laws, merge (the "Merger") into First Asset Hamilton Capital European Bank ETF (the "ETF") if, after November 30, 2015, for a period of 10 consecutive trading days, the daily weighted average trading price (or, in the event there has been no trading on a particular day, the average of the closing bid and ask prices) of the Units is at a discount greater than 2% of the net asset value per Unit for that day.
The syndicate of agents for this offering is being led by CIBC, co-led by RBC Capital Markets, National Bank Financial Inc. and TD Securities Inc., and includes BMO Capital Markets, Scotiabank, Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc. and Manulife Securities Incorporated (collectively, the "Agents").
For further information, please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
This offering is only made by prospectus. The prospectus contains important information relating to these securities and has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the prospectus may be obtained from any of the Agents listed above. Investors should read the prospectus before making an investment decision.
Not for dissemination to U.S. Newswire Services or for dissemination in the United States of America.