Middlefield Group announced the successful completion, effective today, of the previously announced merger of INDEXPLUS Income Fund and INDEXPLUS 2 Income Fund. The continuing fund INDEXPLUS Income Fund.
As of today, the combined total assets of the continuing fund are approximately $451.6 million.
Pursuant to the merger each INDEXPLUS 2 unit held by unitholders was automatically exchanged for 0.8969775 units of INDEXPLUS, the continuing fund. This exchange ratio was based on the relative net asset values, on an unrounded basis, of INDEXPLUS and INDEXPLUS 2 as at the close of trading on the Toronto Stock Exchange on April 24, which were approximately $15.49 per unit and approximately $13.89 per unit, respectively.
Unitholders of INDEXPLUS 2 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 Toronto Stock Exchange. Former INDEXPLUS 2 unitholders who wish to participate in the dividend 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.