05:47:17 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Aston Hill Financial Inc
Symbol AHF
Shares Issued 106,443,760
Close 2016-12-09 C$ 0.14
Market Cap C$ 14,902,126
Recent Sedar Documents

Aston Hill Financial name change to Logiq Asset

2016-12-09 20:49 ET - Change Name

Also New Listing (C-LGQ) Logiq Asset Management Inc

The Toronto Stock Exchange reports that Aston Hill Financial Inc. has changed its name to Logiq Asset Management Inc., effective at the open on Dec. 14, 2016. According to the TSX, the company acquired all the issued and outstanding partnership interests in Front Street Capital 2004, and all the issued and outstanding shares of Tuscarora Capital Inc. The resulting issuer is an asset management company that manages, markets, distributions and administers mutual funds, closed-end funds, private equity funds, hedge funds, segregated institutional funds and other fee-based investment products for Canadian investors. Its fiscal year-end is Dec. 31 and the company does not expect to pay dividends in the foreseeable future.

According to the TSX, the merger will have no effect to the company's shareholders, other than dilution to their current holdings. Holders of the 6.5-per-cent extendible convertible unsecured subordinated debentures of Aston Hill (old debentures) will receive 1,445 Logiq shares and 7-per-cent senior unsecured convertible debentures of Logiq (new debentures) having a principal amount of $600 in exchange for every $1,000 principal amount of old debentures.

The TSX reports that there will be 292,941,375 Logiq shares issued and outstanding, with 158,047,470 shares reserved for issuance. There will be $20,266,000 principal amount of new debentures issued and outstanding, with no debentures reserved for issuance. At the open on Dec. 14, 2016, Logiq's shares will trade under the symbol LGQ and Cusip No. 54142G 10 0, and its debentures will trade under the symbol LGQ.DB.A and Cusip No. 54142G AA 8. The old debentures will be delisted from the TSX at the close on Dec. 13, 2016.

According to the TSX, the new debentures will be quoted based on $100 principal amounts, with all trades being in multiples of $1,000. The new debentures have a maturity date of June 30, 2021, and interest is payable on the new debentures semi-annually in arrears on Dec. 31 and June 30 in each year. The initial interest payment will be $4.47222222 per $1,000 principal amount of new debentures, which will include interest accrued from Dec. 14, 2016, to, but excluding, Dec. 31, 2016. According to the TSX, the holders of the new debentures have the option, at any time before the close of business on the business day immediately preceding the maturity date or the business day immediately preceding a redemption date, if called, to convert the debentures into shares of the company at 30 cents per share. This conversion price represents a conversion rate of approximately 3,333,333 shares per debenture.

For more information, see the company's joint management information circular dated Oct. 14, 2016, and the supplement to the joint management information circular dated Nov. 9, 2016, filed on SEDAR.

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