Brompton Funds has announced (on 2024-11-28):
(TSX: ESP, ESP.PR.A) 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.
The fund was extended in 2024 for a one-year term, paying 8.25%.
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ESP.PR.A To Be Extended
Brompton Funds has announced (on 2024-11-28):
The fund was extended in 2024 for a one-year term, paying 8.25%.
This entry was posted on Saturday, December 14th, 2024 at 5:17 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.