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Press release from CNW Group

Coxe Global Agribusiness Income Fund announces closing of over-allotment option

Wednesday, August 03, 2011

Coxe Global Agribusiness Income Fund announces closing of over-allotment option10:16 EDT Wednesday, August 03, 2011TORONTO, Aug. 3, 2011 /CNW/ - Coxe Global Agribusiness Income Fund (the "Fund") is pleased to announce that the Fund has completed an issuance of an additional 145,653 Units of the Fund pursuant to the exercise of the over-allotment option granted to the Fund's Agents in its recently completed initial public offering which closed on July 19, 2011. Altogether, the Fund has issued 4,045,653 Units at a price of $10.00 per Unit for gross proceeds of $40,456,530.The Fund has been created to provide investors with long term capital growth by executing the agribusiness investment thesis of Donald G.M. Coxe, Chairman of Coxe Advisors LLP. The Fund will invest the net proceeds of the Offering in a diversified portfolio (the "Portfolio") of publicly-listed securities of issuers engaged in various aspects of agriculture, including food production, such as grains and livestock, agriculture equipment and sales, fertilizers, seed and specialty chemicals and agriculture infrastructure, including water, energy and alternative energy, transportation, agriculture technology and biotechnology related to the agribusiness industry ("Agribusiness Issuers").In order to supplement the dividends and distributions generated by the Portfolio and to lower the overall volatility of returns associated with the securities of Agribusiness Issuers held in the Portfolio, the Option Advisor (defined below) will write covered call options from time to time on up to 25% of the Portfolio.The Fund intends to pay quarterly distributions to unitholders commencing in September 2011. The first distribution will be pro rated for the period from the closing of the offering to September 30, 2011. The distributions are initially targeted to be $0.125 per Unit per quarter ($0.50 per Unit per annum) representing a yield of 5.0% per annum based on the original issue price of $10.00 per Unit.The Units are listed on the Toronto Stock Exchange under the symbol CAG.UN.BMO Nesbitt Burns Inc. is the promoter and one of the Agents in connection with the offering and will act as administrator to the Fund. Harris Investment Management, Inc. is the investment manager of the Fund, Coxe Advisors LLP is the portfolio consultant of the Fund and Connor, Clark & Lunn Capital Markets Inc. is the option advisor of the Fund (the "Option Advisor").The Units were offered for sale by a syndicate of Agents led by BMO Capital Markets and included National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any member of the syndicate listed above. Investors should read the prospectus before making an investment decision.For further information: BMO Capital Markets at 1.866.864.7760