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Global Real Estate Dividend Growers Corp. Announces Annual Redemption
Global Real Estate Dividend Growers Corp. Announces Annual Redemption Canada NewsW...
About this update from Greenlight Metals Inc
[{"type":"text","content":"\n\n\n\nGlobal Real Estate Dividend Growers Corp. Announces Annual Redemption\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 30, 2017\n\n\n\nCALGARY, Nov. 30, 2017 /CNW/ - Middlefield Group, on behalf of Global Real Estate Dividend Growers Corp. (the \"Fund\") (TSX: GRL), is pleased to provide an update on the Fund and announce the addition of an annual redemption option (the \"Annual Redemption\").\n\nIn light of the changing landscape of the Canadian investment industry, including the implementation of Phase 2 of the Client Relationship Model (\"CRM2\"), the potential discontinuation of embedded commissions, and the proposed changes to National Instrument 81-102 that would allow for \"liquid alternative\" fund structures, the Manager believes that the best course of action at this time is for the fund to remain listed on the Toronto Stock Exchange (\"TSX\"). This will allow the Fund to continue to benefit from the use of low-cost leverage as well as monitor the changing landscape of the investment funds industry. \n\nFund shareholders who do not wish to continue their investment will have the opportunity to either sell their shares on the TSX or redeem their shares at their net asset value in the Annual Redemption that will be implemented by the Manager. This feature is an effective tool for reducing any discount to net asset value that a fund's shares may trade at on the TSX. The Annual Redemption will be effected on the same basis as the NAV redemption right described in the Fund's initial public offering prospectus dated June 24, 2015, with the valuation date being the second last business day of January (\"Valuation Date\"). Accordingly, redeeming shareholders must provide notice by 5:00 p.m. (Toronto time) on January 2, 2018 for a Valuation Date of January 30, 2018.\n\nThe Fund's shares will continue to be listed on the TSX under the symbol GRL.\n\nCertain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, belie...