TORONTO, ONTARIO--(Marketwired - July 2, 2015) -
NOT FOR DISTRIBUTION IN THE UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
LDIC Inc. ("LDIC" or the "Manager") is pleased to announce the exchange ratios for the Exchange Option being made under the final prospectus dated June 26, 2015 of Healthcare Special Opportunities Fund (the "Fund") for an initial public offering of Class A Units and Class U Units at a price of $10.00 per Class A Unit and U.S.$10.00 per Class U Unit.
The Fund's investment objective is to provide Unitholders with long-term total return through distributions and capital appreciation of the Fund's investment portfolio. The Fund has been created to invest in an actively managed portfolio comprised primarily of publicly traded issuers and private issuers that derive a significant portion of their revenue or earnings from medical and healthcare products and/or services. The Fund may invest up to 20% of the Fund's total assets in private equity investments to provide investors with exposure to a limited number of investments that the Manager believes have potential for significant upside.
LDIC will be responsible for the execution of the Fund's overall investment strategy, including managing the composition of the Portfolio. Canons Park Advisors, Inc., carrying on business as Dalsin Greene Advisors, will provide LDIC with ongoing analysis regarding the global healthcare sector, including private equity investments.
Prospective purchasers investing in the Fund will have the option of paying for Units in cash or by exchanging securities of issuers listed below. Prospective purchasers under the Exchange Option are required to deposit their Exchange Eligible Securities prior to 5:00 p.m. (Toronto time) on July 10, 2015. Such deposits must be made in the form of a book-entry deposit with Equity Financial Trust Company, the Fund's agent for the Exchange Option, through CDS Clearing and Depository Services Inc. ("CDS"). Investment dealers, who will make these deposits through CDS, may have an earlier deadline for receiving instructions from investment advisors to deposit securities under the Exchange Option.
The number of Units issuable for each class of security of an Exchange Eligible Issuer (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (the "TSX") (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ended on June 30, 2015 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $10.00. The Exchange Ratio for any such securities that do not trade in Canadian dollars was determined by converting the weighted average trading price on the applicable exchange of such securities into Canadian dollars based on the WM/Reuters closing spot U.S. dollar/Canadian dollar exchange rate on the last day of the Pricing Period. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of this offering and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. The Fund will not issue fractional Units pursuant to the Exchange Option.
If for any reason Exchange Eligible Securities deposited pursuant to the Exchange Option are not acquired by the Fund, the holders of such securities will be notified of such fact as soon as practicable following the closing or the termination of this Offering, as the case may be, and such securities will be re-credited to their accounts through CDS.
The table below sets out the Exchange Eligible Issuers, their ticker symbol, CUSIP number, ISIN number, volume weighted average trading price during the Pricing Period and the Exchange Ratio.
| Exchange Eligible Issuers |
TICKER | CUSIP | ISIN | Volume Weighted Average Trading Price |
Exchange Ratio |
| Abbott Laboratories | ABT | 002824100 | US0028241000 | 61.84684 | 6.18468 |
| AbbVie Inc. | ABBV | 00287Y109 | US00287Y1091 | 86.10232 | 8.61023 |
| Aetna Inc. | AET | 00817Y108 | US00817Y1082 | 161.47929 | 16.14793 |
| Aflac Incorporated | AFL | 001055102 | US0010551028 | 78.44505 | 7.84450 |
| ageas SA/NV | AGESY | 00844W208 | US00844W2089 | 48.57189 | 4.85719 |
| Agilent Technologies Inc | A | 00846U101 | US00846U1016 | 49.60486 | 4.96049 |
| Alaris Royalty Corp. | AD | 01163Q400 | CA01163Q4007 | 30.83840 | 3.08384 |
| Alexion Pharmaceuticals Inc. | ALXN | 015351109 | US0153511094 | 229.22496 | 22.92250 |
| Alimentation Couche-Tard Inc. | ATD/B | 01626P403 | CA01626P4033 | 53.57110 | 5.35711 |
| Alkermes plc | ALKS | 00B56GVS1 | IE00B56GVS15 | 81.00800 | 8.10080 |
| Allianz SE | ALV | 018805101 | US0188051017 | 149.06978 | 14.90698 |
| Allied Properties Real Estate Investment Trust | AP-U | 019456102 | CA0194561027 | 35.70320 | 3.57032 |
| AmerisourceBergen Corp. | ABC | 03073E105 | US03073E1055 | 134.55374 | 13.45537 |
| Amgen Inc. | AMGN | 031162100 | US0311621009 | 195.19070 | 19.51907 |
| Amica Mature Lifestyles Inc. | ACC | 031498207 | CA0314982079 | 8.03860 | 0.80386 |
| Anthem Inc. | ANTM | 036752103 | US0367521038 | 208.07164 | 20.80716 |
| Artis Real Estate Investment Trust | AX-U | 04315L105 | CA04315L1058 | 13.71810 | 1.37181 |
| AstraZenica plc | AZN | 046353108 | US0463531089 | 81.20563 | 8.12056 |
| Bank of Montreal | BMO | 063671101 | CA0636711016 | 75.09760 | 7.50976 |
| Baxter International Inc. | BAX | 071813109 | US0718131099 | 89.41085 | 8.94109 |
| Bayer AG | BAYRY | 072730302 | US0727303028 | 181.01499 | 18.10150 |
| BCE Inc. | BCE | 05534B760 | CA05534B7604 | 53.77410 | 5.37741 |
| Becton, Dickinson and Company | BDX | 075887109 | US0758871091 | 177.48112 | 17.74811 |
| Biogen Inc. | BIIB | 09062X103 | US09062X1037 | 507.69623 | 50.76962 |
| BioMarin Pharmaceuticals Inc. | BMRN | 09061G101 | US09061G1013 | 168.76328 | 16.87633 |
| Boston Scientific Corporation | BSX | 101137107 | US1011371077 | 22.47157 | 2.24716 |
| Bristol-Myers Squibb Co. | BMY | 110122108 | US1101221083 | 83.72115 | 8.37211 |
| Brookdale Senior Living Inc. | BKD | 112463104 | US1124631045 | 44.32365 | 4.43236 |
| Brookfield Asset Management Inc. | BAM/A | 112585104 | CA1125851040 | 44.21510 | 4.42151 |
| Brookfield Property Partners LP | BPY-U | N/A | BMG162491077 | 27.52380 | 2.75238 |
| Calloway Real Estate Investment Trust | CWT-U | 131253205 | CA1312532056 | 29.04240 | 2.90424 |
| Canadian Imperial Bank of Commerce | CM | 136069101 | CA1360691010 | 94.17030 | 9.41703 |
| Canadian Western Bank | CWB | 13677F101 | CA13677F1018 | 29.46510 | 2.94651 |
| Cardinal Health, Inc. | CAH | 14149Y108 | US14149Y1082 | 107.18810 | 10.71881 |
| Catamaran Corporation (formerly SXC Health Solutions Corp.) | CCT | 148887102 | CA1488871023 | 75.64630 | 7.56463 |
| Celgene Corporation | CELG | 151020104 | US1510201049 | 146.70271 | 14.67027 |
| Centene Corporation | CNC | 15135B101 | US15135B1017 | 100.38989 | 10.03899 |
| Cerner Corporation | CERN | 156782104 | US1567821046 | 86.07161 | 8.60716 |
| CGI Group Inc. | GIB/A | 39945C109 | CA39945C1095 | 50.02910 | 5.00291 |
| Chartwell Retirement Residences | CSH-U | 16141A103 | CA16141A1030 | 11.50120 | 1.15012 |
| Chemed Corporation | CHE-U | 16359R103 | US16359R1032 | 25.48871 | 2.54887 |
| Cigna Corp. | CI | 125509109 | US1255091092 | 208.34193 | 20.83419 |
| Community Health Systems, Inc. | CYH | 203668108 | US2036681086 | 77.30321 | 7.73032 |
| Concordia Healthcare Corp. | CXR | 206519100 | CA2065191009 | 92.72420 | 9.27242 |
| Crombie Real Estate Investment Trust | CRR-U | 227107109 | CA2271071094 | 12.54710 | 1.25471 |
| CVS Health Corp. | CVS | 126650100 | US1266501006 | 131.78954 | 13.17895 |
| DaVita Healthcare Partners, Inc. | DVA | 23918K108 | US23918K1088 | 100.48253 | 10.04825 |
| Dream Global Real Estate Investment Trust (formerly, Dundee International Real Estate Investment Trust) | DRG-U | 26154A106 | CA26154A1066 | 10.01060 | 1.00106 |
| Dream Office Real Estate Investment Trust (formerly, Dundee Real Estate Investment Trust) | D-U | 26153P104 | CA26153P1045 | 24.78930 | 2.47893 |
| Edwards Lifesciences Corp. | EW | 28176E108 | US28176E1082 | 180.30100 | 18.03010 |
| Eli Lilly & Co. | LLY | 532457108 | US5324571083 | 106.13853 | 10.61385 |
| Empire Company Limited | EMP/A | 291843407 | CA2918434077 | 89.92800 | 8.99280 |
| Endo International plc | ENL | G30401106 | IE00BJ3V9050 | 60.02085 | 6.00208 |
| Express Scripts Holding Company | ESRX | 30219G108 | US30219G1085 | 113.03025 | 11.30303 |
| Extendicare Inc. | EXE | 30224T863 | CA30224T8639 | 7.57020 | 0.75702 |
| Fidelity MSCI Health Care Index ETF | FHLC | 316092600 | US3160926008 | 45.61518 | 4.56152 |
| First Capital Realty Inc. | FCR | 31943B100 | CA31943B1004 | 17.98500 | 1.79850 |
| First Trust Health Care AlphaDEX Fund | FXH | 33734X143 | US33734X1431 | 86.11631 | 8.61163 |
| Fresenius Medical Care AG & Co. | FMS | 358029106 | US3580291066 | 52.96134 | 5.29613 |
| George Weston Limited | WN | 961148509 | CA9611485090 | 100.78420 | 10.07842 |
| Gilead Sciences Inc. | GILD | 375558103 | US3755581036 | 148.80473 | 14.88047 |
| GlaxoSmithKline plc | GSK | 37733W105 | US37733W1053 | 53.37420 | 5.33742 |
| Granite Real Estate Investment Trust | GRT-U | 387437114 | CA3874371147 | 43.57340 | 4.35734 |
| Great-West Lifeco Inc. | GWO | 39138C106 | CA39138C1068 | 37.10560 | 3.71056 |
| H&R Real Estate Investment Trust | HR-U | 404428203 | CA4044282032 | 22.35950 | 2.23595 |
| HCA Holdings, Inc. | HCA | 40412C101 | US40412C1018 | 112.85085 | 11.28508 |
| HCP, Inc. | HCP | 40414L109 | US40414L1098 | 45.90707 | 4.59071 |
| Health Care REIT | HCN | 42217K106 | US42217K1060 | 82.81077 | 8.28108 |
| Healthcare SPDR ETF | XLV | 81369Y209 | US81369Y2090 | 94.16222 | 9.41622 |
| Healthcare Trust of America, Inc. | HTA | 42225P501 | US42225P5017 | 29.87091 | 2.98709 |
| Hologic, Inc. | HOLX | 436440101 | US 4364401012 | 47.45840 | 4.74584 |
| Hospira, Inc. | HSP | 441060100 | US4410601003 | 110.71624 | 11.07162 |
| Humana Inc. | HUM | 444859102 | US4448591028 | 242.25458 | 24.22546 |
| Illumina, Inc. | ILMN | 452327109 | US 4523271090 | 272.78118 | 27.27812 |
| Incycte Corporation | INCY | 45337C102 | US45337C1027 | 129.84494 | 12.98449 |
| Intuitive Surgical, Inc. | ISRG | 46120E602 | US46120E6023 | 615.21430 | 61.52143 |
| iShares Global Healthcare Index ETF (CAD-Hedged) | XHC | 46431R102 | CA46431R1029 | 43.37640 | 4.33764 |
| iShares S&P Global Healthcare Sector ETF | IXJ | 464287325 | US4642873255 | 137.42931 | 13.74293 |
| iShares S&P/TSX 60 Index ETF | XIU | 46428D108 | CA46428D1087 | 21.65700 | 2.16570 |
| iShares U.S. Healthcare ETF | IYH | 464287762 | US4642877629 | 200.19139 | 20.01914 |
| iShares U.S. Healthcare Providers ETF | IHF | 464288828 | US4642888287 | 180.02210 | 18.00221 |
| Isis Pharmaceuticals, Inc. | ISIS | 464330109 | US4643301090 | 73.74274 | 7.37427 |
| Johnson & Johnson | JNJ | 478160104 | US4781601046 | 123.45023 | 12.34502 |
| Laboratory Corporation of America Holdings. | LH | 50540R409 | US50540R4092 | 150.46792 | 15.04679 |
| Loblaw Companies Limited | L | 539481101 | CA5394811015 | 64.53330 | 6.45333 |
| Manulife Financial Corporation | MFC | 56501R106 | CA56501R1064 | 23.75210 | 2.37521 |
| McKesson Corporation | MCK | 58155Q103 | US58155Q1031 | 285.05524 | 28.50552 |
| Medivation, Inc. | MDVN | 58501N101 | US58501N1019 | 140.90276 | 14.09028 |
| Medtronic plc | MDT | N/A | IE00BTN1Y115 | 93.60554 | 9.36055 |
| Merck & Co Inc. | MRK | 58933Y105 | US58933Y1055 | 72.34385 | 7.23438 |
| Metro Inc. | MRU | 59162N109 | CA59162N1096 | 33.75380 | 3.37538 |
| Mylan N.V. | MYL | 001103120 | NL0011031208 | 86.64103 | 8.66410 |
| National Bank of Canada | NA | 633067103 | CA6330671034 | 47.53150 | 4.75315 |
| Novartis AG | NVS | 66987V109 | US66987V1098 | 124.28245 | 12.42825 |
| Novo Nordisk A/S | NVO | 670100205 | US6701002056 | 69.33195 | 6.93320 |
| Opko Health, Inc. | OPK | 68375N103 | US68375N1037 | 19.76978 | 1.97698 |
| Perrigo Company plc. | PRGO | 714290103 | IE00BGH1M568 | 234.29094 | 23.42909 |
| Pfizer Inc. | PFE | 717081103 | US7170811035 | 42.32725 | 4.23272 |
| Power Corporation of Canada | POW | 739239101 | CA7392391016 | 32.75770 | 3.27577 |
| Power Financial Corporation | PWF | 73927C100 | CA73927C1005 | 36.39640 | 3.63964 |
| Procter & Gamble Co. | PG | 742718109 | US7427181091 | 98.87589 | 9.88759 |
| Pure Industrial Real Estate Trust | AAR-U | 74623T108 | CA74623T1084 | 4.74900 | 0.47490 |
| Quest Diagnostics Incorporated | DGX | 74834L100 | US74834L1008 | 90.39564 | 9.03956 |
| Regal Lifestyle Communities Inc. | RLC | 75882T101 | CA75882T1012 | 12.01310 | 1.20131 |
| ResMed Inc. | RMD | 761152107 | US7611521078 | 70.07366 | 7.00737 |
| RioCan Real Estate Investment Trust | REI-U | 766910103 | CA7669101031 | 26.89600 | 2.68960 |
| Roche Holding AG | RHHBY | 771195104 | US7711951043 | 44.55773 | 4.45577 |
| Rogers Communications Inc. | RCI/B | 775109200 | CA7751092007 | 43.51980 | 4.35198 |
| Royal Bank of Canada | RY | 780087102 | CA7800871021 | 77.60930 | 7.76093 |
| Sanofi S.A. | SNY | 80105N105 | US80105N1054 | 63.66671 | 6.36667 |
| Seattle Genetics, Inc. | SGEN | 812578102 | US8125781026 | 59.56329 | 5.95633 |
| Shaw Communications Inc. | SJR/B | 82028K200 | CA82028K2002 | 27.55360 | 2.75536 |
| Shire plc | SHPG | 82481R106 | US82481R1068 | 308.84892 | 30.88489 |
| Sienna Senior Living Inc. | SIA | 82621K102 | CA82621K1021 | 15.54610 | 1.55461 |
| St. Jude Medical, Inc. | STJ | 790849103 | US7908491035 | 92.52438 | 9.25244 |
| Stryker Corporation | SYK | 863667101 | US8636671013 | 120.64033 | 12.06403 |
| Sun Life Financial Inc. | SLF | 866796105 | CA8667961053 | 42.58610 | 4.25861 |
| TELUS Corp. | T | 87971M103 | CA87971M1032 | 42.85710 | 4.28571 |
| Tenet Healthcare Corporation | THC | 88033G407 | US88033G4073 | 69.88077 | 6.98808 |
| Teva Pharmaceutical Industries Ltd. | TEVA | 881624209 | US8816242098 | 73.99456 | 7.39946 |
| The Bank of Nova Scotia | BNS | 064149107 | CA0641491075 | 65.92930 | 6.59293 |
| The Jean Coutu Group (PJC) Inc. | PJC/A | 47215Q104 | CA47215Q1046 | 23.00600 | 2.30060 |
| The Toronto-Dominion Bank | TD | 891160509 | CA8911605092 | 53.92950 | 5.39295 |
| Thermo Fisher Scientific Inc. | TMO | 883556102 | US8835561023 | 163.67820 | 16.36782 |
| Thomson Reuters Corporation | TRI | 884903105 | CA8849031056 | 48.02730 | 4.80273 |
| UnitedHealth Group Inc. | UNH | 91324P102 | US91324P1021 | 152.79741 | 15.27974 |
| Universal Health Services, Inc. | UHS | 913903100 | US9139031002 | 174.18070 | 17.41807 |
| Valeant Pharmaceuticals International, Inc. | VRX | 91911K102 | CA91911K1021 | 281.27760 | 28.12776 |
| Vanguard Health Care ETF | VHT | 92204A504 | US92204A5048 | 176.38397 | 17.63840 |
| Ventas, Inc. | VTR | 92276F100 | US92276F1003 | 78.11246 | 7.81125 |
| Vertex Pharmaceuticals Incorporated | VRTX | 92532F100 | US92532F1003 | 127.10640 | 12.71064 |
| Walgreens Boots Alliance, Inc. | WBA | 931427108 | US9314271084 | 107.56913 | 10.75691 |
| Zoetis Inc. | ZTS | 98978V103 | US98978V1035 | 62.08592 | 6.20859 |
The syndicate of agents for the Offering is being co-led by BMO Capital Markets and Scotiabank, and includes Canaccord Genuity Corp., GMP Securities L.P., Mackie Research Capital Corporation, Salman Partners Inc., Desjardins Securities Inc., Dundee Securities Ltd., Global Securities Corporation, Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., and PI Financial Corp. (collectively, the "Agents").
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will", and similar expressions to the extent they relate to the Fund and/or the Manager. The forward-looking statements are not historical facts but reflect the Fund's and/or the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund and/or the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund and/or the Manager undertake no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
A final prospectus dated June 26, 2015 (the "Prospectus") containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada. Copies of the Prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
All capitalized terms noted herein but not defined are as defined in the Prospectus.
For additional information or a copy of the Prospectus, please contact your registered financial advisor.
Contact Information:
Genevieve Roch-Decter
1-416-362-4141
gdecter@ldic.ca