Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Middlefield Announces Wind Up of MBN Corporation

TORONTO, March 08, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Middlefield Limited (the “Manager”), manager of MBN Corporation (“MBN” or the “Corporation”), is announcing the termination of MBN. This news release serves as notice of termination to holders of MBN’s equity shares (the “Equity Shares”).

The wind up of MBN will occur pursuant to the redemption of all issued and outstanding Equity Shares for proceeds per Equity Share equal to MBN’s net asset value (“NAV”) per Equity Share, following the satisfaction of all of MBN’s liabilities. The redemption is expected to occur on or about April 21, 2022 (the “Redemption Date”), with redemption proceeds paid out within approximately 5 business days thereafter. The Manager expects to terminate MBN as soon as practicable following the Redemption Date by dissolving the Corporation.

The Board of Directors of the Manager determined that the termination of MBN is in the best interest of the shareholders given the persistent trading price discount of the Equity Shares to MBN’s NAV, and the fact that pursuant to the termination the holders of MBN’s Equity Shares will receive a redemption price equal to the NAV of MBN following the satisfaction of all of MBN’s liabilities.

The decision to terminate was considered among various strategic alternatives for MBN. In addition, we are proud of MBN’s short and long term performance with 1, 3, 5, 10-year annualized returns of 31.0%, 11.5%, 8.1%, 6.8%, respectively.

Please note there should be no tax consequences to those shareholders who hold their investment within registered plans, such as RRSPs, TFSAs, etc. We encourage you to discuss your various alternatives with your investment advisor regarding the termination and determine what strategy is most suitable for you to achieve your personal needs and objectives.

Middlefield Group

Formed in 1979, Middlefield creates equity income mandates designed to balance risk and return to meet the demanding requirements of Financial Advisors and their clients. These financial products include TSX-Listed IPOs and ETFs, Mutual Funds, Split Share Corporations, Flow Through LPs and Real Estate Investment Funds and Partnerships.

For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

You will usually pay brokerage fees to your dealer if you purchase or sell units/shares of investment funds on the Toronto Stock Exchange or other alternative Canadian trading system (an “Exchange”). If the units/shares are purchased or sold on an Exchange, investors may pay more than the current net asset value when buying and may receive less than the current net asset value when selling them. 

There are ongoing fees and expenses associated with owning units or shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. The indicated rates of return are the historical annual compounded total returns, including changes in unit or share value and reinvestment of all distributions, and does not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.


Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).