Aston Hill Financial Inc.
TSX : AHF

Aston Hill Financial Inc.

September 24, 2014 16:09 ET

North American Financials Capital Securities Trust Announces Extension Proposal

TORONTO, ONTARIO--(Marketwired - Sept. 24, 2014) - Aston Hill Capital Markets Inc. ("Aston Hill") as Manager of North American Financials Capital Securities Trust (the "Fund") announced today that it is calling a meeting of holders ("Unitholders") of the Fund's Class A and Class F units ("Units") to consider a proposal to extend the term of the Fund. The extension will involve:

  1. the extension of the termination date permitting Unitholders to hold their investment until November 30, 2019;
  2. the change of investment mandate to broaden the geographic scope and to expand the types of bank capital securities that are eligible for inclusion in the portfolio; and
  3. the creation of a special redemption right to provide to Unitholders who do not wish to extend their investment with the option of redeeming their Units as originally contemplated on November 30, 2014.

A special meeting of Unitholders has been called and will be held on November 10, 2014 to consider and vote on the proposed extension. Details of the proposed extension will be outlined in an information circular to be prepared and delivered to Unitholders in connection with the special meeting and which will be available on www.sedar.com. The extension will be subject to receipt of all necessary regulatory approvals.

About North American Financials Capital Securities Trust

The Fund is an investment trust whose investment objectives are to (i) provide Unitholders with attractive tax-advantaged quarterly cash distributions, and (ii) return to Unitholders the original issue price of the Units upon termination of the Fund. Distributions are initially targeted to be $1.50 per annum per Unit consisting primarily of returns of capital, representing a yield on the Unit issue price of 6.0% per annum. The Fund will seek to achieve its investment objectives through exposure to an actively managed portfolio consisting primarily of Canadian Innovative Tier 1 Capital Securities issued by banks or entities related to banks and U.S. Financials Capital Securities. The Units are listed for trading on the Toronto Stock Exchange under the symbol NAF.UN.

For further information, please contact your financial advisor or visit our website at www.astonhill.ca.

Aston Hill Capital Markets Inc. is a leading Canadian structured financial products investment firm focused on creating and managing high quality investment vehicles. The Manager is a subsidiary of Aston Hill Financial Inc. (TSX:AHF). Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds. Aston Hill Financial Inc. has offices in Calgary, Toronto and Halifax.

Contact Information

  • Aston Hill Capital Markets Inc.
    Sales and Marketing support line
    416-583-2300 (toll-free at 1-800-513-3868)
    www.astonhill.ca