Middlefield is to merge the Energy IndexPlus Dividend Fund into Middlefield Global Infrastructure Mutual Fund effective on or about 17 June, 2015, with Global Infrastructure Fund being the continuing fund.
Given the relative illiquidity of the Fund's units on the Toronto Stock Exchange ("TSX"), the Merger is expected to benefit the Fund's unitholders by providing an opportunity to hold units of Global Infrastructure Fund, a strong-performing mutual fund that offers daily redemptions at net asset value.
Completion of the Merger is expected to take place on or about 17 June, 2015, (the date of completion being the "Effective Date"), and is subject to receipt of all necessary regulatory and other applicable approvals, including the approval of the Fund's unitholders, and customary closing conditions. The Merger will be effected at an exchange ratio calculated as the net asset value per unit of Energy Indexplus divided by the net asset value per Series A unit of Global Infrastructure Fund, determined as at the close of trading on the TSX on the business day immediately prior to the Effective Date.
