Middlefield International Actual Asset Fund Completes Merger Into Actual Property Cut up Corp.

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Middlefield International Actual Asset Fund

TORONTO, Dec. 06, 2024 (GLOBE NEWSWIRE) — Actual Property Cut up Corp. (“Actual Property Cut up”) (TSX: RS, TSX: RS.PR.A) is happy to announce the profitable completion of the beforehand introduced merger with Middlefield International Actual Asset Fund (“Actual Asset”) (TSX: RA.UN), leading to Actual Property Cut up being the persevering with fund. Every Actual Asset unit has been mechanically exchanged into 0.36409573 models of Actual Property Cut up (every Unit comprised of 1 Most well-liked Share and one Class A Share of Actual Property Cut up Corp.). This alternate ratio was primarily based on the web asset worth per unit of Actual Asset as of the shut of enterprise on December 5, 2024, divided by the web asset worth per Unit of Actual Property Cut up Corp. Roughly 1,054,761 Most well-liked Shares and 1,054,761 Class A shares of Actual Property Cut up had been issued in reference to the merger. Actual Asset models had been delisted from the TSX on the finish of enterprise on December fifth. Unitholders of Actual Asset don’t must take any actions to obtain their Most well-liked Shares and Class A Shares of Actual Property Cut up.

The Merger was not effected on a tax-deferred roll-over foundation and, as such, will probably be thought of a taxable occasion for buyers that will lead to capital losses or beneficial properties turning into realized. All prices of the mergers had been paid by the supervisor, Middlefield Restricted.

Former unitholders of Actual Asset who want to take part within the voluntary Distribution Reinvestment Plan (the “DRIP”) of Actual Property Cut up Class A shares might want to contact their advisor to enroll within the Actual Property Cut up’s DRIP.

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The funding aims of Actual Property Cut up Corp. are to supply:

Holders of Class A shares with:

  1. non-cumulative month-to-month money distributions; and

  2. the chance for capital appreciation by means of publicity to Actual Property Cut up Corp’s portfolio; and

Holders of Most well-liked shares with:

  1. fastened cumulative preferential quarterly money distributions; and

  2. a return of the unique subject worth of $10.00 to holders upon maturity.

Actual Property Cut up Corp. is concentrated on conventional property sorts like industrial, multi-family, senior housing, and retail that Middlefield Capital Company, the funding advisor of Actual Asset and Actual Property Cut up Corp (the “Advisor”), believes are well-positioned to profit from rising demand and constrained actual property provide, in addition to rising property sorts like knowledge centres, U.S. cell towers, and life science labs that symbolize an rising share of the actual property market. Actual Property Cut up Corp. employs a tactical asset allocation technique so as to search one of the best mixture of capital appreciation potential and earnings and can actively regulate the Portfolio’s asset allocation throughout sectors/themes primarily based upon the Advisor’s outlook.

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