Canadian Preferred Share Trust Announces Exchange Ratios

Canadian Preferred Share Trust Announces Exchange Ratios

TORONTO and MONTREAL, June 24, 2015 /CNW Telbec/ - The Canadian Preferred Share Trust (the "Fund") announces the exchange ratios for its exchange offer being made under the final prospectus of the Fund dated June 22, 2015 for an initial public offering (the "Offering") of Class A Units and Class F Units (collectively, the "Units") at a price of $10.00 per Unit.

The Fund's investment objectives are to provide holders of Units with monthly cash distributions, preserve capital and provide the opportunity for capital appreciation, and reduce the risk of rising interest rates by managing portfolio duration. The Fund has been created to invest in an actively managed portfolio comprised primarily of Canadian preferred shares. The Fund's distributions are initially targeted to be $0.0333 per Unit per month ($0.40 per annum) to yield 4.0% per annum on the subscription price per Unit.

Fiera Capital Corporation ("Fiera Capital") is the manager, portfolio manager and promoter of the Fund. Fiera Capital is responsible for creating, structuring, managing and promoting the Fund and will also implement the Fund's investment strategies.

The number of Units issuable for each exchange eligible security (the "Exchange Eligible Securities") has been determined by dividing the volume weighted average trading price for such securities on the TSX or other applicable exchange during the period of three consecutive trading days ending on and including June 24, 2015 (the "Pricing Period"), as adjusted to reflect distributions declared in respect of such Exchange Eligible Securities that will not be received by the Fund, by $10.00 (the "Exchange Ratio"). Holders of Exchange Eligible Securities who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of this offering and will be entitled to receive dividends or distributions in respect of such Exchange Eligible Securities up to but not including such date. The Fund will not issue fractional Units pursuant to the Exchange Option.

If for any reason Exchange Eligible Securities deposited pursuant to the Exchange Option are not acquired by the Fund, the holders of such securities will be notified of such fact as soon as practicable following the closing or the termination of this Offering, as the case may be, and such securities will be re-credited to their accounts through CDS Clearing and Depository Services Inc.

The table below sets out the Exchange Eligible Securities, the securities which may be accepted by the Fund pursuant to the Exchange Option, its ticker symbol, CUSIP number, volume weighted average trading price during the Pricing Period and the Exchange Ratio.

The syndicate of agents for this offering is being co-led by RBC Capital Markets and CIBC, and includes Scotiabank, National Bank Financial Inc., BMO Capital Markets, TD Securities Inc., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Canaccord Genuity Corp., Dundee Securities Ltd. and Manulife Securities Incorporated (collectively, the "Agents").

The Offering is made only by prospectus. The prospectus contains important detailed information relating to the units being offered. Copies of the prospectus may be obtained from any of the Agents. Investors should read the prospectus before making an investment decision.

About Fiera Capital

Fiera Capital Corporation is a leading publicly-traded, independent investment firm with offices in major financial centres across North America. Fiera Capital offers the full array of traditional and alternative investment solutions for institutional, private wealth and retail clients, as well as a proactive and tactical asset allocation process. In the U.S., asset management services are provided by Fiera Capital's U.S. subsidiaries, Bel Air Investment Advisors LLC and Wilkinson O'Grady & Co., Inc. For more information, visit www.fieracapital.com.

SOURCE Canadian Preferred Share Trust

For further information: For inquiries regarding the Fund, please contact Krista Matheson, Senior Vice President, Retail Markets, Fiera Capital at 416-955-4929 or visit www.fieracapital.com