Canadian Warrants - Flaherty & Crumrine Inv. Grade Fixed Income Fund

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Flaherty & Crumrine Inv. Grade Fixed Income Fund

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Address: Bay Wellington Tower, Brookfield Place
Suite 2930, Box 793,
181 Bay Street,
Toronto, Ontario M5J 2T3
General Inquiries (416) 642-6000
Investor Relations (416) 642-9051
Toll Free 1-866-642-6001
Fax (416) 642-6001
Website - https://www.bromptongroup.com/

Warrant Symbol - FFI.WT.A
Number Trading -
Expiration Date - June 15, 2010
Cusip - 33847Y 12 9
Exercise Price -

Warrant Symbol - FFI.WT010
Cusip - 33847Y 12 9> Expiration Date - March 24, 2011
Cusip -
Exercise Price - $10.79

Warrant Symbol - FFI.WT
Number Trading -
Expiration Date - Sept. 15, 2009
Cusip - 33847Y 11 1
Exercise Price - $6.65

Warrants called to trade news:

Flaherty files final prospectus on warrant offering

2011-02-11 08:39 MT - News Release
Flaherty & Crumrine Investment Grade Fixed Income Fund has filed a final prospectus relating to an offering of warrants to unitholders of the fund. Each unitholder of record will receive one-third of a warrant for each unit held on Feb. 22, 2011.

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One warrant will entitle the holder to purchase a unit of the fund at an exercise price of $10.79 (being the most recently calculated NAV per unit prior to the filing of the preliminary prospectus plus the per unit fees and expenses of the offering) on or before the expiry date of March 24, 2011. The fund has applied to list the warrants on the TSX under the ticker symbol FFI.WT. Warrants will be distributed to client accounts on a best-efforts basis after the Feb. 22, 2011 record date. There is no additional subscription privilege under this offering. A holder of warrants may only subscribe for units by exercising their warrants by the expiry date. The closing price of the units of the fund on Feb. 9, 2011, was $11.19, which was above the exercise price.

Successful completion of the warrants offering will provide the fund with additional capital that can be used for investment opportunities and it is also expected to increase the trading liquidity of the units and reduce the ongoing management expense ratio of the fund.

For further information, please contact your financial adviser, call Brompton's investor relations line at 416-642-9051 (toll-free at 1-866-642-6001).

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds.

Flaherty & Crumrine to list 4.32 million warrants Dec. 15

2009-12-09 19:24 MT - Warrants Called to Trade
TSX bulletin 2009-1661
Holders of units (symbol: FFI.UN) of Flaherty & Crumrine Investment Grade Fixed Income Fund of record at the close of business (Toronto time) on Dec. 15, 2009, will be issued warrants, on the basis of one-half of one warrant for each unit held. Each whole warrant entitles the holder to purchase one unit at a price of $9.07 on or before 5 p.m. (Toronto time) on June 15, 2010.

The units of the fund will commence trading on an ex distribution basis at the opening on Dec. 11, 2009, at which time up to 4,327,350 warrants will be posted for trading on a when-issued basis, under the following trading information:

Symbol: FFI.WT.A
Cusip No.: 33847Y 12 9
Trading currency: Canadian
Designated market-maker: RBC Capital Markets
Markets: None

Additional information on the warrant offering may be found in the fund's short-form prospectus dated Dec. 3, 2009, which is available at SEDAR. Capitalized terms used but not otherwise defined are as defined in the prospectus.

The fund uses the book-entry only system administered by CDS Clearing and Depository Services Inc. with respect to units and warrants. A holder of warrants may subscribe for a whole number of units by instructing the CDS participant holding the subscriber's warrants to exercise all or a specified number of such warrants and forwarding the subscription price for each unit subscribed for in accordance with the terms of the offering and the warrant indenture to the CDS participant which holds the subscriber's warrants. The subscription price is payable in Canadian funds by certified cheque, bank draft or money order drawn to the order of a CDS participant, by direct debit from the subscriber's brokerage account or, by electronic funds transfer or other similar payment mechanism. All payments must be forwarded to the appropriate office of the CDS participant. The entire subscription price for units subscribed for must be paid at the time of subscription and must be received by the warrant agent prior to the date of the exercise of the warrants. Accordingly, a subscriber subscribing through a CDS participant must deliver its payment and instructions sufficiently in advance of the expiry date to allow the CDS participant to properly exercise the warrants on such subscriber's behalf. Units will be issued on a fully paid basis only. Units not issued prior to the closing of the record books on a distribution record date will not be eligible to receive the applicable distribution. Holders of warrants are encouraged to contact their broker or other CDS participants as each CDS participant may have an earlier cut-off time.

Each holder of warrants that subscribes for units to which such holder is entitled pursuant to the basic subscription privilege may, at any time during the exercise period, subscribe for additional units pursuant to the additional subscription privilege, if applicable, at a price equal to the subscription price for each additional unit. Holders of warrants will not be required to fully exercise all of their warrants under the basic subscription privilege in order to be eligible for the additional subscription privilege. To apply for additional units under the additional subscription privilege, a beneficial holder of warrants must forward their request to a CDS participant. Payment for additional units, in the same manner as for units, must accompany the request when it is delivered to the CDS participant. Payment in full of the subscription price must be received by the warrant agent prior to 5 p.m. (Toronto time) on the expiry date, failing which the subscriber's entitlement to such units will terminate. Any excess funds will be returned by mail or credited to a subscriber's account with its CDS participant, without interest or deduction. Units will be issued on a fully paid basis only. Units not issued prior to the closing of the record books on a distribution record date will not be eligible to receive the applicable distribution. Holders of warrants are encouraged to contact their broker or other CDS participants as each CDS participant may have an earlier cut-off time.

The units are not registered under the 1933 act. The offering is made in Canada and not in the United States. The offering is not, and under no circumstances is to be construed as, an offering of any units for sale in the United States or an offering to or for the account or benefit of any U.S. person or a solicitation therein of an offer to buy any securities. Accordingly, the warrants may not be distributed to unitholders located in the United States, and no subscriptions will be accepted from any person, or their agent, who appears to be, or who the fund has reason to believe is, resident in the United States.

It is expected that the CDS participant will, prior to the expiry date, attempt to sell for the U.S. unitholders the warrants allotable to such U.S. unitholders at the price or prices it determines in its discretion. Any proceeds received by the CDS participant with respect to such warrants are expected to be delivered by the CDS participant as soon as practicable to such U.S. unitholders.

Unitholders whose recorded addresses are outside of Canada, other than the U.S. unitholders, will be permitted to subscribe for units pursuant to the terms of the offering or, if they do not wish to exercise any of their warrants to subscribe for units, will be permitted to sell or otherwise transfer their warrants through a CDS participant provided that they represent to the fund that the receipt by them of warrants and the issuance to them of units upon the exercise of the warrants will not be in violation of the laws of their jurisdiction of residence.

The fund will pay a warrant exercise fee at the time the warrant is exercised equal to 14 cents per warrant to the CDS participant whose client is exercising the warrant.

The warrants will be governed by the terms of a warrant indenture to be entered into on Dec. 15, 2009, between the fund and Computershare Trust Company of Canada, as warrant agent. The warrant indenture provides for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization.

Flaherty & Crumrine warrant distribution

2009-02-04 15:47 MT - Dividend Declared
TSX bulletin 2009-0154
Holders of units of Flaherty & Crumrine Investment Grade Fixed Income Fund of record as of the close on Feb. 10, 2009, will be issued warrants, on the basis of one warrant for each unit held. Each warrant entitles the holder to purchase one unit at a price of $6.65 on or before 5 p.m. (Toronto time) on Sept. 15, 2009. The units of the fund will commence trading on an ex distribution basis at the open on Feb. 6, 2009, at which time up to 6,586,770 warrants will be posted for trading on a when-issued basis, under the following trading information:

Warrant symbol: FFI.WT
Warrant Cusip No.: 33847Y 11 1
Warrant trading currency: Canadian dollars
Designated market-maker: RBC Capital Markets
Other markets: None

Additional information on the warrant offering may be found in the fund's short form prospectus dated Jan. 29, 2009, which is available at www.sedar.com. Capitalized terms used but not otherwise defined are as defined in the prospectus. The fund uses the book-entry-only system administered by CDS Clearing and Depository Services Inc. with respect to units and CDS will hold a certificate with respect to warrants. The fund may also use the non-certificated issue system or another system administered by CDS. A holder of warrants may subscribe for units by instructing the CDS participant holding the subscriber's warrants to exercise all or a specified number of such warrants and forwarding the subscription price for each unit subscribed for to such CDS participant.

A holder of warrants may subscribe for a whole number of units by instructing the CDS participant holding the subscriber's warrants to exercise all or a specified number of such warrants and forwarding the subscription price for each unit subscribed for in accordance with the terms of the offering and the warrant indenture to the CDS participant which holds the subscriber's warrants. The subscription price is payable in Canadian funds by direct debit from the subscriber's brokerage account or, by electronic funds transfer or other similar payment mechanism. All payments must be forwarded to the appropriate office of the CDS participant. The entire subscription price for units subscribed for must be paid at the time of subscription and must be received by the warrant agent prior to the date of the exercise of the warrants. Accordingly, a subscriber subscribing through a CDS participant must deliver its payment and instructions sufficiently in advance of the expiry date to allow the CDS participant to properly exercise the warrants on such subscriber's behalf. Unitholders are encouraged to contact their broker or other CDS participants as each CDS participant may have a different cut-off time.

Each holder of warrants that subscribes for units to which such holder is entitled pursuant to the basic subscription privilege may, at any time during the exercise period, subscribe for additional units pursuant to the additional subscription privilege, if applicable, at a price equal to the subscription price for each additional unit. Holders of warrants will not be required to fully exercise all of their warrants under the basic subscription privilege in order to be eligible for the additional subscription privilege. To apply for additional units under the additional subscription privilege, a beneficial holder of warrants must forward its request to a CDS participant prior to 5 p.m. (Toronto time) on the expiry date. Payment for additional units, in the same manner as for units, must accompany the request when it is delivered to the CDS participant, as the case may be. Any excess funds will be returned by mail or credited to a subscriber's account with its CDS participant, without interest or deduction. Payment in full of the subscription price must be received by the warrant agent prior to 5 p.m. (Toronto time) on the expiry date, failing which the subscriber's entitlement to such units will terminate. Accordingly, the subscriber must deliver payment and instructions sufficiently in advance of the expiry date to allow the CDS participant to properly exercise warrants on such subscriber's behalf and apply for additional units under the additional subscription privilege, as applicable.

The units are not registered under the 1933 Act. The offering is made in Canada and not in the United States. The offering is not, and under no circumstances is to be construed as, an offering of any units for sale in the U.S. or an offering to or for the account or benefit of any U.S. person or a solicitation therein of an offer to buy any securities. Accordingly, no subscriptions will be accepted from any person, or their agent, who appears to be, or who the fund has reason to believe is, resident in the U.S.

It is expected that the CDS participant will, prior to the expiry date, attempt to sell for the U.S. unitholders the warrants allotable to such U.S. unitholders at the price or prices it determines in its discretion. Any proceeds received by the CDS participant with respect to such warrants are expected to be delivered by the CDS participant, as soon as practisable to such U.S. unitholders.

Unitholders whose recorded addresses are outside of Canada, other than the U.S. unitholders, will be permitted to subscribe for units pursuant to the terms of the offering or, if they do not wish to exercise any of their warrants to subscribe for units, will be permitted to sell or otherwise transfer their warrants through a CDS participant provided that they represent to the fund that the receipt by them of warrants and the issuance to them of units upon the exercise of the warrants will not be in violation of the laws of their jurisdiction of residence.

The warrants will be governed by the terms of a warrant indenture to be dated on or about Feb. 10, 2009, between the fund and Computershare Trust Company of Canada, as trustee. The warrant indenture provides for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization.

Flaherty & Crumrine Fixed files final prospectus

2009-02-02 12:10 MT - News Release
Flaherty & Crumrine Investment Grade Fixed Income Fund has filed a final prospectus relating to an offering of warrants to unitholders of the fund. Each unitholder of record will receive one warrant for each unit held on Feb. 10, 2009. One warrant will entitle the holder to purchase a unit of the fund at an exercise price of $6.65 (being the most recently published NAV (net asset value) per unit plus the per unit fees and expenses of the offering) on or before Sept. 15, 2009, the expiry date. The fund has applied to list the warrants under the ticker symbol FFI.WT and the units issuable on the exercise thereof on the Toronto Stock Exchange. It is expected that the warrants will commence trading on Feb. 6, 2009, and will be exercisable until Sept. 15, 2009.
Successful completion of the warrants offering will provide the fund with additional capital that can be used to take advantage of attractive investment opportunities, and it is also expected to increase the trading liquidity of the units and reduce the continuing management expense ratio of the fund.

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Warrant Terms

Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.

Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.

Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."

Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.

Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.

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