Examples of Brompton ETFs in a sentence
On any trading day, unitholders may redeem units of any Brompton ETF for cash at a redemption price per unit equal to the lesser of: (a) 95% of the closing price for the units on the Toronto Stock Exchange (the “TSX”) (or any other exchange on which the Units of the Brompton ETFs may be listed) on the effective day of the redemption; and (b) the NAV per unit on the effective day of the redemption.
The Brompton ETFs are authorized to issue an unlimited number of units.
If, in the event of academic weakness, declining enrolment, financial exigency, or other significant circumstances, the Provost believes that it may be necessary to close or substantially reconfigure a Faculty or School, he/she shall inform the Dean and the Academic Council in a timely way of these concerns.The Provost shall then consult with the Dean and the Faculty Council, seeking agreement that the unit should be closed or substantially reconfigured.
For each of the Brompton ETFs, a trading day is a day on which the TSX is open for business and on which the primary market or exchange for the majority of the securities held by the Brompton ETF is open for trading.
Consequently, the redeemable units of the Brompton ETFs are classified as financial liabilities in accordance with the requirements of International Accounting Standard 32 Financial Instruments: Presentation.
Liquidity risk Liquidity risk is the risk that the Brompton ETFs may not be able to settle or meet its obligations on time or at a reasonable price.
The registered office of the Brompton ETFs is 181 Bay Street, Suite 2930, Toronto, ON M5J 2T3.
The CTA provides renewed importance to the threshold “who is the client?” assessment.
The Brompton ETFs are exposed to a variety of financial risks, including the following: Credit risk The Brompton ETFs are exposed to credit risk, which is the risk that the counterparty to a financial instrument will fail to discharge an obligation or commitment it has entered into with the Brompton ETFs. As at ⚫, 2018, the credit risk is considered limited as the cash balances represent deposits with an A-rated financial institution.
As at October 5, 2018, one unit of (a) Brompton Flaherty & Crumrine Investment Grade Preferred ETF was issued for cash consideration of $25.00 and (b) of each of Brompton Global Dividend Growth ETF and Brompton North American Financials Dividend ETF was issued for cash consideration of $20.00 to the Manager, which therefore holds all of the issued and outstanding units of the Brompton ETFs.