Examples of Brompton ETFs in a sentence
Brompton Funds Limited (the “Manager”) is the trustee, manager and promoter of the Brompton ETFs and is responsible for the administration of the Brompton ETFs. The investment objectives of Brompton Flaherty & Crumrine Investment Grade Preferred ETF are to provide holders of units (“Unitholders”) of the Brompton ETF with: (a) stable monthly cash distributions and (b) a stable net asset value.
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.
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.
The registered office of the Brompton ETFs is 181 Bay Street, Suite 2930, Toronto, ON M5J 2T3.
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.
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 Brompton ETFs are authorized to issue an unlimited number of units.
As at ⚫, 2018, one unit of each Brompton ETF was issued for cash consideration of $⚫ to the Manager, which therefore holds all of the issued and outstanding units of the Brompton ETFs.
The financial statement of each of the Brompton ETFs was approved by the board of directors of the Manager on April 20, 2020.
It reflects core Christian teachings about human beings and healthy relationships, including the belief that all are made in the image of God, are loved by God and are therefore to be treated with dignity and respect.